Hi
I believe the vix is the best play. Last night we had bad earnings by Amazon which made up the bulk of the sp500. It fell more than 6%. This triggered a cascade of fear in the market. I believe the worst is behind us for the immediate future and the Vix which is based on fear and volatility is like to come down. I have shorted this index before market close. My short term target is at the bottom of the channel and long term target of 15.
Alex