look at 20 year charts on the vix and you will see a pattern emerge. we have just gone through a 3 year cycle of relative low volatility. Its happened twice before. Its followed by a long period of high volatility which should see the vix leave the low ranges of 11-12 for quite a few years. Im expecting the vix to perhaps go down to the 12.5 level before it happens. currently it sits at 13.4. Get ready for a wild ride.