A ton of discussion on vix of late.

Modalities of the 'Imminent' VIX Spike - Seeking Alpha

CBOE Volatility Index - Barron's : Misreading the VIX - ^VIX - InvestorVillage

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from my own experience, vix has been acting oddly for the past 1-2 years and accelerating.

These articles may have a valid point and vix may need to be re-formulated (again) to account for things like calls on 2X short funds should be lumped together not with equity calls, but equity puts.

Good articles.