$VIX January Calls Are Active (VIX Cash = 16.59)

Here's an update from the OptionMonster Volatility Sonar Report via optionmonster.com. The VIX is currently at 16.59 and bouncing around 3 year lows. The VIX (volatility index) measures the expectation of near-term volatility in the S&P 500 Index via its option prices. So, if I understand this correctly, traders via out-of-the-money VIX calls are buying (or hedging) the expectation of traders pricing in the expectation of higher volatility in the S&P in January.