VXX$21.95

VXX broke its 15-min OR high of 21.81, closing at 21.88 on 6.6x volume. The VIX is exploding due to a $2.2T market meltdown (Benzinga, T2). Entry at 21.88, stop at 21.00 (below VWAP 21.14 and OR low 20.52). Target 23.50 (+7.4%). Reward/Risk > 1.5. Volatility plays are inherently risky and short-lived; intraday horizon is appropriate. Conviction 6 due to the broad market sell-off context, but the move is already 19% above SMA20, suggesting potential mean reversion risk if the market stabilizes.