I am now long Spider Calls.... just a little to see what happens.
It is possible that the S&P could find itself at the highs of the year again on the mistaken notion that rate cuts will cure all. Wouldn't that be the ultimate lunacy? A run back to the highs of the year for the ultimate double top and then an even nastier slide because the Fed has to scamble to do something in crisis mode?
VIX at below 12... c'mon, but ok, you can't fight these markets, but I still think you see a 30+ VIX sometime this year.