Betting on a spike in the vix tomorrow after the CPI number comes in hot. Too many signs of inflation to ignore, there's no way the CPI comes in softly. I think the markets will have a slight reaction which should spike the "fear index" for a brief period of time, long enough to sell the calls in-the-money
Strategy to profit from this possibility:
VXX expiration June 11th $33 strike calls (ITM)
VXX expiration June 11th $34 strike calls (OTM)
Vix spikes are usually short-lived and this is playing off a specific catalyst, specifically, the CPI being reported at 8:30 am June 10th.