Investors are increasingly hedging against volatility: Call options volume on the volatility index, VIX, jumped above 1 million contracts on Tuesday for the 6th time this year. This is in line with the amount of hedging seen before the November elections. Highest volumes were seen in options with VIX strikes of 24 and 25 points, expiring in March. If the VIX rises toward those strike levels we may see a blowout in the volatility index, according to Nomura. Volatility is here to stay.