When traders and investors see a huge spike in the VIX like this, they rush in to short it because it never lasts long. It is one of the most crowded trades in the market. But in order to profit from a huge spike in VIX, you don't need to short VIX itself in order to take advantage.
Instead, I looked for the ETF experiencing a large amount of that volatility that was pushing down to a zone where I don't mind owning it in case I'm wrong.
The one I found was IWM.
It dropped swiftly into the sideways channel formed in 2022 and lasting into 2024. I posted in Discord this idea that if IWM dropped, I would start to trade it and I called out this exact range: