With the S&P 500 up 1% and VIX down 10%, does it make sense to buy volatility ahead of the key jobs data on Friday? Mark Sebastian, Founder of Option Pit and featured volatility contributor on The Street's Options Profits, joins Jill Malandrino from the floor of the CME Group. Sebastian explains even with the market down big earlier in the week, VIX actually underperformed. Sebastian is looking at a 1X2 backspread headed into nonfarm payrolls, a strategy used for a more short-term position into a specific event.

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