In other words, because of the European-style exercise and the mean-reversion of volatility, VIX options will often trade at lower value than what seems appropriate during periods of high volatility (and vice versa in low volatility periods), particularly early on in the term of the option.

FORBES: Profiting From Fear With Exchange-Traded VIX Notes

The process was slow: Over the next 35 years there, he constructed a hacienda-style main house, guest casitas, a six-car garage, an exercise area, three swimming pools, and two barns, which were once used by his wife, Karen Sharp, to breed Andalusian horses.

FORBES: Life Castles: A Hollywood Mogul's $60 Million Malibu Paradise - Forbes