Other than a synthetic long or short are there other strategies that can be used when one is unsure about implied volatility going forward? If I'm confident the underlying is going to move one way or another, but the IV is right in the middle of it's range, it's hard to say which strategy to apply. I suppose based on my forecast of the underlying I could make a volatility forecast. If I'm expecting a big bullish move, I'll forecast the IV to go down. If I'm expecting a big bearish move, the IV to go up. Although that's not always true (look at GE, for example, big move up on Friday and IV went up too). I'd be appreciative of anyone's ideas.