Building a $VIX position.

For the first time in a long while, I’m gradually building a long VIX exposure.
U.S indices are showing fatigue and I see upside momentum is compressing.
Volatility is still relatively contained versus the macro and geopolitical backdrop.
With rising tensions in Iran and broader global instability, I see asymmetric upside in volatility if liquidity tightens or risk reprices.
P.S: not a headline trade, it’s a convex hedge build while vol is still reasonably priced.
To be continued.