VIX gained a bit (about 8%) last week as the S&P 500 was under pressure. The curve shifted in a pretty uniform manner with March adding just over 3% as contango was fairly steep on Friday the 9th. As a friendly reminder, March contracts settle on the open this coming week.
Short volatility has gotten bad rap lately due to recent price action. However, short volatility, when done in a risk controlled manner, can be a viable trading strategy all types of markets. [...]