I already wrote here about 2 most excellent presentations Jeremy Wien did on the VIX, but earlier today I found (googling) another article that I have never read before where he gives rules for trading VIX and VIX options.
1. There's a lot of "air" once we move out of the perceived range of the VIX
2. The rules of market liquidity in crises apply to VIX ten-fold
3. Never sell a VIX call below .25 unless it is protected by something
4. You must manage your VIX positions at least semi-actively (even/especially the ones that are in place as hedges)
5. For true CRASH protection, there is not a better product to own than a low-delta VIX call
While not as detailed as his other 2 articles, there is a lot of helpful advice. Enjoy!