Anyone notice (or have explanations) on the selling of upside volatility in the 30 year bond (ZB) options ??? I see 13% vol on ZB right now whereas last week it was closer to 20%.. 30 yr is up almost a point and the 131 May calls are trading a tick higher!! I see the skew is towards the put side... In three trading days, I have some near term close otm options that have lost half their value and the contract is above closing levels on 4/3. Also, I notice a difference in ZB vol versus TLT vol. TLT is higher vol. I assume this has to do with different maturity. I set up a CTD calculator and figured ZB represents the 2/12/2025 (that is 16 yr bond).. Is this correct? BTW... anyone know a good bond trading forum?