Options Institute Director of Education, Russell Rhoads, CFA, will discuss the CBOE Volatility Index (VIX) and the VIX option markets. VIX is a unique index and VIX index options also have their own unique price behavior. Russell will discuss what every trader should know before trading VIX options as well as demonstrate VIX option spreads that are appropriate when a trader has a bullish, bearish, or neutral outlook for market volatility.