ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[stingray113]

Cook,

A leveraged nat gas ETF with protective puts would be an excellent "safe" strategy at the moment, with potentials to pull some big gains.

If you want to do further reading on playing the VIX, etc, I found this author on Seeking Alpha. Its hard to find such a complete resource in one place. He's right on in everything he says, which is also rare, and has all the basics laid out in a series of articles.

http://seekingalpha.com/author/josh-krause/articles

Also check out the "vix and more" blog here:
http://vixandmore.blogspot.com/

Hope this helps!