The last time we were at such lows in the VIX, we had a global financial meltdown. I'm not calling anything on another meltdown, that's not my job. Simply looking to take a little stab at volatility returning.
Currently we find ourselves in the longest period of time that the S&P 500 has had a 1% move, higher or lower.
I'm buying Calls on VIX, April 2017 $14 looking for a volatility pop on an intraday basis.