Even with all that's going on and all the uncertainty, we're stuck in a relatively low volatility environment. The tight bid/asks are great for the retail customer/trader, but awful for vol-scalping market-makers like myself. Although I can put on positions I like without giving up too much edge, the slow static nature of low implied vol (IV) and the IV surface makes impatient short-term time horizon traders like me lose their mind waiting for the position to play out. As for trading vol, selling low vol is just not worth the risk to collect a little time decay everyday, and I hate managing a large short gamma position. Buying low vol sounds like a good idea in principle, but you have to wait it out and pay that theta bill everyday. Like they say, unless IV is at irrationally low levels, it doesn't makes sense to inventory option premium. Buying options is all about timing - get long just before the big move and vol explosion. Selling options is about being patient, maybe taking a little heat, waiting for the vol implosion, and collecting theta while you wait. Low volatility is a daytrader's nightmare. Better to just let your algos scalp micro inefficiencies in the marketplace while you go play golf or go on vacation. But if you are a junkie like me and are addicted to trading, be nimble and trade small, stay flat premium, trade the mean-reverting moves of the vol range, and don't get caught short premium just before the inevitable breakout move.