Condor Options

Monday Equity Volatility Report

The implied volatility indexes covered here already serve precisely the function you describe. They state an annualized 30-day implied volatility (forward-looking) for the asset in question, within one standard deviation.

VXV, one of the components in my VIX Premium Ratio, tracks a similar three month estimate for the S&P 500.

Feed Your Hedge Against Volatile Markets

@granger: we've written about that topic here: www.condoroptions.com/.../

@Augustus: thanks for your response. To your point about hedging with different indexes, note that in the article we're just suggesting hedging with QQQQs for portfolios that are heavy in other Nasdaq names; certainly a small cap-heavy portfolio should use IWM instead.

@koko: you can sell calls every month; it's better to choose strikes using implied volatility and delta readings, rather than choosing them by price.