Tactical Trading: Move Short "Fear"?

With the volatility index (CBOE VIX) hitting highs last seen back in 2011, the VIX index is up about 157% in the space of a week. We looked at the VIX back in March 2015, and came to the conclusion, due to practical methods of trading the VIX for Australian investors, that you may be better of waiting for periods of very high volatility (FEAR) and selling the index, as opposed to buying and waiting for the spike. Its an interesting trade that can be accessed through ETF's. And with only 4 periods in the last 10 years when the VIX hit these levels or more, now is an opportune time to take a look at VIX trading. However, it is certainly a higher risk trading strategy due to the nature of "fear and volatility". See note (VIEW LINK)