Swapped out puts for a long Dec VIX pos

In reference to my earlier post Uptrending Equity: VXX should no longer have massive decay,  now Dec VIX is trading at a discount to the VIX index, while Jan VIX is still at a pretty good premium.  So I'm swapping out my SPY puts for a long Dec VIX position.  I'm in the money a fair amount on this trade from just the last few days

VXX should no longer have massive decay

At this point, VXX owns almost entirely Dec VIX futures, which aren't trading at much of a premium to the index anymore.  But Jan VIX futures are still quite pricey, so I'm short that against some ITM SPY puts with IVs under 18%.  Not trying to lose too much time premium.  If Dec VIX futures begin trading at a discount or in line with the index, I'll swap the puts out for a long Dec VIX.  The pair (long Dec and short Jan) will be a slightly bearish on the mkt, since Dec will move more in line with the index.  Will keep that in mind.

Volatility arb still ripe

As discussed earlier at Uptrending Equity: Volatility arb, volatility futures are still trading at a steep contango.  Since the monthly incremental contango in the VIX futures term structure is almost just as steep going forward several months, rather than tapering off less steeply as you go deeper into the term structure (which would be more normal and expected), I reached out to short the Jan VIX futures and bought Nov SPY puts with IVs of 16% to hedge, rather than shorting VXX, which is currently holding mostly Nov VIX futures.  I'll roll the puts over once we approach expiration more so that I'm not bleeding too much time value.