"Volatility spikes" refers to sudden and significant changes in the price or value of something, indicating an increase in its instability or unpredictability. Full definition
And while short - volatility ETFs can benefit from the same dynamic, their investors can get wiped out when volatility spikes. (allianzgi.com)
Importantly, while that was taking place the last time we saw volatility spike like that, you know, we were facing recession — global recession. (businessinsider.com)
In the event of a large enough volatility spike such strategies will blow up. (frank-k-martin.com)