In elevated volatility (VIX 30+) environments, buying outright put options is expensive and spreads are more tactically attractive, but spreads only realize their full profit at expiration; tactical investors should either hold spreads to expiration or buy additional spreads to ensure adequate dollar protection when tactical closeouts are needed.

normativepending

Speaker

Patrick Serzna

Evidence Quote

the VIX still up in the 30s, it is very challenging to just buy a strike a straight out put option like you were suggesting.

Source

MacroVoices #475 Simon White: The Dawn of A New Financial OrderMacro Voices
Created: 8/11/2026, 7:06:30 AM

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