If you are looking for voilitility and leverage then the VIX charts will supply that for you as this is where options live and die! This year I have been adding options into the ETF mix but will not play the VIX until I have a better trading account built up. Wedges seemed to work as the January explosion was not surprise. If this bearish phase is much bigger than most think then the VIX made-up with SP500 options, should create a new record high.
When the VIX goes vertical then this is the best time to close CALLs and call it a day. We have another wedge forming as well, but we have to wait to see if the VIX clears my “A” wave in Intermediate degree.