I'm feeling lucky to have exited my Jul/Aug calendars for even $. The volatility really dropped. Made a bit on flys, but I had to work hard for it. I hope every month is not going to be this labor-intensive while we slog through this recession or whatever it is.....
I closed a couple of my credit spreads for July. Still have 18 open, in a variety of industries. With respect to volatility, I try to minimize its influence on my trades whenever I can. An example of that is using narrow strike gaps of 1 - 1.5 when its offered. Putz Master