VIX is all time low and reached it support level at around $27
Very good risk reward trade, to capitalize on future earnings and volatility that it can cause. Also all old world problems that causes a to of volatility in February - April of 2014 are still there. The volatility can mainly increase due to crisis in Ukraine/Russia, Iraq, Iran, financial troubles of EU, slow down in China. And don't forget all upcoming talks about the end of QE and Interest increase,