Smart money activity in the past 24 hours that is out of the ordinary. It includes stock options bought on the ask or sold on the bid with unusual size and daily volume compared to open interest.
The investment seeks results (before fees and expenses) that correspond to one-half the inverse (-0.5x) of the performance of the S&P 500 VIX Short-Term Futures Index for a single day. The index seeks to offer exposure to market volatility through publicly traded futures markets and is designed to measure the return from a rolling long position in the first and second month VIX futures contracts.
Call trades that are bought on or above the market's asking price OR put trades that are sold on or less than the market's bid price - expecting a move to the updside.