Giant VIX Options Trade Bets on a Return to Volatility

The video discusses a trader's significant bet on market volatility, despite current trends showing a calm market with the VIX at a one-year low. The trader purchased 200,000 VIX contracts, indicating a belief that volatility will increase. The discussion highlights the VIX's mean-reverting nature and potential catalysts like taxes or COVID-19 variants that could trigger market changes.

What are some potential catalysts for volatility mentioned in the text?

What range did the trader bet on for the VIX?