What benefit is predicting volatility?
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Similar to knowing winning PowerBall numbers in advance! -- For ultra conservatives, you know how much hedge is appropriate (worth big bucks, as well).
...uhhh....just a little, unimportant thing called...Money,
The most valuable commodity I know of...is information.
You either have a trading edge, or you might as well step on the ledge.
No one can 100% Predict the Future. -- but you can atleast manage it, and/or go and flow with it,
Bend the variables or whatever expectations of the game slightly in your favor, if you can,
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dunno the answer to your question BUT I'd like to ask you, if you are good in predicting realized vol, why would you choose to take directional bets only on the asset. Why not use other instruments that fit your ability? There are traders out there that are good in direction, others in magnitude of movement,etc and they put on options positions to take advantage of their "edge" Why limit yourself?
Volatility equates to movement.
You might as well ask, "Why does it help me to know the future amount of movement in an instrument or index?"
First, it helps you to know whether or not to even engage in the instrument. And second, to what extent? Position sizing. And third, with what risk protection in place.
VIX, but who cares really... since you can't predict future realized vol because that's not possible.
Oh, and if you're thinking about realized vol will go up because earnings... meh... everyone knows that... nothing interesting there.... can't trade on it since that info is already known to the markets.