This Bearish Bat would have me believe that the VIX Bullish Butterfly Rally will come to an end and go back down to atleast the area of $28.50 but i wouldn't be surprised if it went into the lower 20S if this played out.
For more context this was formerly a Bullish trade Setup but now it's reached the target and we are looking for a retrace downward again.
Check the relatted idea below for further context of the previous trade.