Hoping a few experts can offer an opinion on how to construct a trade, people can refer to some tools, or perhaps a livevol rep can say how one can use their tools. have started to research a concern and a way to take out nsurance against a possible war, perhaps involving iran and how to construct a trade with as much time premium as possible, create the lowest risk, and have an asymetric risk profile, on a low probability event. the instrument would be something like the OIH or USO, whichever offered the most upside protection at lowest cost. Any thoughts on what to look for on a call ratio backspread combined with a calendar, selling near term at near or at the money options, then buying long dated options? not really sure where to get started, figuring out the margin, scenarios, etc. maybe something like using ivolatility.com + http://www.theoptionslab.com. could livevol be used in some way? it seems more geared towards event trading.