Yesterday our systems triggered on $VXX and we bought some $VXX 12.5 puts expiring at the end of the week for $0.28. They have doubled since then. We expect that the volatility crush will continue for the next couple of days, but that the VIX will remain above 10, and likely above 11.
The rebound will lead to another round of volatility selling by the big players. That in turn makes the probability of a bigger Vol spike even greater.
We are currently working on finding the best solution to get trade ideas out quickly and easily to those that are interested in following along, especially given that this service will be more oriented toward shorter term plays and not just weeks long credit trades.