[quickthrower2]

How is Volatility an asset, and how does one take advantage of this?

[d--b]

Banks sell derivatives indexed on vol, like vol swaps and var swaps.

VIX futures also reflect stock market volatility, and their prices are based on S&P option prices.

[quickthrower2]

Ah VIX - I saw that https://news.ycombinator.com/item?id=16313832