If GDP comes in this week lower than expected vxx could see $30. Don't listen to anyone that says "no" because they are the same idiots that were running around this board screaming "vxx will NEVER see $24 again". The % move from 25.25-30 is much smaller than the % move from 21-25. Contango is and will continue collapsing as more an more puts get bought for protection. You could see vxx move up even if the market moves up in backwardation.