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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (187765)	1/5/2015 7:10:38 PM
From: CommanderCricket	Respond to of 206085

The way to play it is with /CL futures options. Highly liquid and with IV currently trading at the high end of it's trading channel, it's a play on crude going higher and an IV crush. Also cheap to hold. OVX (/CL futures implied volatility) is at nearly 60% when it usually trades below 20%. When /CL turns, write slightly out of the money on the near month and the next month contract. Rinse and repeat to the low $70's. My plan - a revenge trade. Got my butt kicked last fall on /CL futures puts sold at 65 through 70. Want my money back! Michael