Nighthawk says, buy some OTM SP500 calls strike 2640. Buy some OTM 2380 puts. When 2640 in ES is being hit, sell all your calls, buy ITM puts from your proceeds. Go golfing next 4 years.
So buy the 2380/2640 outside strangle for what exp? Guess? SPX hits 2640 and you buy ITM puts. Jan17 strangle is $44 (no quotes on my phone). Worth $73 tomorrow at vola-400bp and ATM at 2640. 65% and you golfing for four years?
Market Induced Vol is a gift... License to print money, literally! Core short position trailer hit after hours ramp @ 2472... from cost /sell basis 2566.50... +94.50 handles.. left 30 H on the table... no complaints! God bless this Vol/ license to print !!!
Nice spot to add to existing shorts or create new....85-89Taking off half 70.25 from 87.75 ...half at 65.25 #9031 Today at 2:57 PMReport