Jeffrey Gundlach Makes Big Bear Bet - CNBC (08/09/2017)

Jeffrey Gundlach: I bought S&P puts from CNBC.

"I think going long the VIX is really sort of free money at a 9.80 VIX level today," Gundlach said. "I believe the market will drop 3 percent at a minimum sometime between now and December. And when it does I don't think the VIX will be at 10."

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