"I was hoping to have a set and forget type of investment whereby I buy say $50/index point and have a VIX product that remains dormant until there is volatility."
I spent months looking for the same type of thing but nothing in the VIX environment around like that as far as I know.
That's why I try to benefit from the deterioration in volatility ETFs.
You will have to find another way. If you have a view that the markets will rise for another few years, why not a low maintenance trend trading strategy? An effective trend trader will outperform markets over time. That is the simplest way I know of.
