If I look at something like [https://www.cnn.com/markets/fear-and-greed](https://www.cnn.com/markets/fear-and-greed), I see a lot of "fear" indicators. A couple of "neutral" indicators among them the VIX (CBOE Volatility Index). It suggests that the market isn't expecting a lot of volatility (large market moves). It seems strange to me to see fear indicators and at the same time little expectation of volatility. Of course the VIX is more of a trailing than leading indicator. Seems like not a bad time to buy some VXX, to hedge against a market panic.
Opinions?
Edit: To clarify, I'm not talking about selling holding to try to make a short term play. I'm interested in making a small side bet to profit against a market panic.
