Traders are bracing for a wild start to 2017

Trading activity for protection against market volatility suggests that investors are bracing for a rough patch ahead. 
The Chicago Board Options Exchange Volatility Index (or the VIX) which shows expectations of near-term volatility based on S&P 500 index option prices, fell to the lowest intraday level in over a year on Tuesday.
A low reading on the so-called fear gauge is usually an indication that traders expect calmness in the market in the near-term.
However, a look