It could be more a play against treasuries as well, which could be good for stocks right now.
Since news isn't edge of cliff fear that was being trumpeted in August, I would tend to think there would be a move out.
I keep an eye on the vix, but tend to play more the Russel, TNA, TZA charts and ride the waves... Being so choppy it has been tough, but the pattern is there. However, it seems that dems might finally understand that the US is going to throw them under the bus, so they might throw business a bone to save face.
I also just hate the 3x decay, so I don't hold it very long.