What does the option picture for NMX tell you and what is a limited risk strategy for an option picture like NMX? I know I call sell the puts but i usually prefer verticals spreads so my risk is defined. I personally dont have a strong feeling up or down on the stock but I am more looking at what spread strategy does someone use in a situation like this. The puts have an IV of 38 and the calls have an iv of 29 in Jan. A difference of 11. Then going into feb it is 37 for the calls and 50 for the puts. Thanks for your help. (yes I am new to options trading)