Selling put options after brexit

JNK

 

Sigh..what is a good option strategy then that takes advantage of high IV and does not involve disproportionate risk. Straddles, wide credits, etc

 

Do you want to bet Vol goes up or down? Over what time period?

 

And HYG...

 

I am predicting it will go down but I don't want to be hosed too badly it goes up more

 

Buy puts in VIX or a put spread