system
A chat on subreddit /r/wallstreetbets
human
No I get that and understand that.  I was asking with current drive up in SPY would any pullback on SPY likely also cause VXX to go up.

gpt
Yes, but it's usually not a good play. VXX will always drift down over time when SPY is increasing, flat, or slowly decreasing. Timing that unexpected spike in volatility is never easy. Better to get longer term spy put spreads, since at least they will retain some value if you're wrong about the magnitude or time.