buy vol on a related cointegrated instrument where the implied is lower -- if such exists. may be easier to just not-do-what-you-are-doing though..
Nice example of what can happen: He is short the ZW Aug 950 call, the mark from his screen shot was .5, but the market right now is .75 bid at 16.25. Obviously the market is not really 16.25, but it shows what happens when the market makers get scared and give ridiculous markets. Even if he could get filled in the 3.5 range that is a 700% loss from his first mark.
It's legitimately a 2.00 offer here. Do not sell up and outs in grains. I've witnessed 30 cent drops in wheat where the calls rally 10 points. Reckless and inexperienced. Can't make any money selling EQ options so he moves to grains. Start with kerosene and move to rocket fuel. I am sure there are some penny bid calls on CL at the 150 strike he can short. Low-hanging fruit.
Go vega-neutral on CL/HO a bit closer to the money and you're short significantly more premium with a lower haircut. At least there is some juice there and he's not completely naked. Trade duration (calendars) or inter-mkt, not verticals/strips.