1. vix does have long term structure.
2. in valley area between 10 - 20: coincidental with a steady rising market.
3. ridge area above 20: volatile, can happen in both a rising market and a declining market.
2. in valley area between 10 - 20: coincidental with a steady rising market.
3. ridge area above 20: volatile, can happen in both a rising market and a declining market.