With all the market volatility of late, I was thinking that it might be a good short term strategy to employ a straddle approach.
For those not familiar with Options trading: This is a strategy where you buy both a call and put option on a stock betting that it will move big (long straddle) in any direction, or stay stable (short straddle).
My question is this. Is there an investment vehicle (fund/ETF) where you can bet on volatility of the market without directly getting involved in the complexities of purchasing individual options contracts? Is it possible to even buy options on broad market index ETFs?