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VIX options

roarflolo said: "Does anyone have any experience with VIX options? Are they liquid? Is the spread reasonable? Are the fills OK? Good enough to do conditional orders at market?"

drdan said: "Never traded them, but looking at the chains it appears that the current month options have a lot of open interest and daily volume which means liquid. And the spreads are mostly within .10 and some within .05 so that is great. Looking at longer term options the spreads look bad over .20 on most of them. However since I have never traded them take this information with a grain of salt. :)"

Rickster said: "I havent traded them either, but I can tell you this: I have bought and sold options where there was almost no volume and I had most if not all of the open interest. I never had trouble getting in or out as long as I was willing to pay the spread (buy or sell at the market)."

roarflolo said: "Where there's a will there's a way :) Thanks guys. I've been watching the VIX today and the options prices move "weird", not like equity options at all. When the VIX went from 12.65 to 13.22 in an hour, theoretically the option should have moved 23 cents, it moved maybe 5 cents."