I think Michael misspoke near the end of the segment when he said sell the $20 July call. He should have said Buy the $20 call to take advantage of a possible spike in the Vix. Not convinced about the timing, but at 10 cent net cost may work even if you roll for the next six months.

If tempted to follow this trade recommendation before jumping in ask yourself at a minimum the following questions and if the answer to any one is 'don't know' then stay away. 1./ do you understand the optimum time in a cycle to roll to next month to avoid Gamma risk? (Tip: for an existing position in July 25th Monthly, the statistically optimum day to Roll out to August 17 Monthly cycle, is this Friday June 29th, 21 days before expiry ) 2./ Do you know the mechanics of how to Roll Out in time? 3./ do you know how to set the probabilities of success in your favor by setting statistically realistic profit targets? Anyone now thinking what does any of this all mean is not ready to enter the trade. If tempted to still try it i.e. put on the position and let it run to expiry ( which you had to do because you didn't now how to roll) to just see what happens, then best wishes and good luck. Now options are THE single most profitable way to trade and invest, premium selling strategies in particular are immensely powerful. However it takes time to learn, so for any one interested to understand more my recommendation is start by deciding that over the next three months you will complete an initial program of learning, importantly do at least do something every day, study methodically with purpose. At the end of the three months, you'll NOT be ready to call yourself an option trader but you MIGHT be ready to trade very small positions with seed money as part of your education but at a minimum you'll certainly be in a much better place with some new found clarity to appreciate the potential of multiple option strategies and hopefully now motivated to continue and go on further with the learning process. Once competent the prize at the end of road? It's entirely possible for most folks of any age to trade options profitably without the news, without expert opinions, and when armed with some basic skills be able to identify the best options trades with the highest probability of success and yet be completely agnostic on the underlying Company, Index or ETF.

typo, in previous comments, I should have said for an existing position in July 20th Monthly Cycle.............

Like this one. Solid logic. Looks like the cost on the July 18th's for this trade is more around .20. You can go out 90 days and do it for around .50.