The "VIX futures price" currently hovers just below 16, a level analysts consider neutral for short-term equity risk appetite. Compared to last quarter’s average of 18.5, implied volatility has cooled, potentially signaling confidence in upcoming corporate earnings results. I would also look to close the trade by the end of October if a big move hasn’t occurred by then. Think of price volatility as a battle between fear and greed. Extremes in fear and greed can cause volatile price movements. When greed is dominant and prices are moving up, you might not consider protecting your portfolio from downside risk. But when fear becomes dominant, you might wish you had a portfolio protection strategy in place—and you might pay up for some sort of protection . Volatility can be vicious and costly, so keep an eye on it. The latest "VIX futures price" is trading near 15.8, reflecting a modest uptick in market volatility expectations as investors digest mixed economic data. Short-term traders are keeping an eye on upcoming Fed speeches, which could drive volatility higher if rate-cut timing shifts. Historically, VIX futures tend to spike around macro surprises.