A sharp increase in volatility after a major market crash is 100% normal. This is caused by a reduction in the number of market participants who would normally be providing liquidity (they can't do so anymore, they got wiped out). This increase in two-way volatility throws most traders off-balance, as they fail to adjust position sizing, and makes otherwise passive holders sell as the extreme swings makes them panic. This increase in volatility is temporary. That translates into oppertinuty: a) Vol sellers should profit. b) New investors who can weather the vol should profit as well, as when vol decreases funds tend to add to longs. You can see how this happened after 10/10 on both implied and realized volatilty 👇(Alex Krüger)