Post-Fed, what will the VIX do until year-end?

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Markets have seen a spike in volatility after the Federal Reserve announced its intention to keep short-term interest rates near zero for another month at least.

After being mostly in a downtrend for the past three weeks, the CBOE Volatility Index - often known as the market's "fear gauge" - headed back above its long-term average level of 20 and ended at 22.28 last Friday.

That marked a rise of 4.36 percent from Thursday's close of 21.14. The VIX measures prices of options on the and hence the magnitude of expected moves in stocks.

With uncertainty around the Fed's monetary policy set to continue, what do you think the VIX will do until year-end?