Plenty
of selling today, sure, and the foreign markets don’t look ready to
provide any help any day soon. (Glad we’re not China A-share holders.)
So this could turn into an ugly holiday season.
But there’s always a bright side, and its name is volatility. Consider the following facts:
Implied volatility in SPX is right back up to its August highs,
which, as you’ll recall, are the highest levels seen in years. Note
that we’re using the 90 day reading rather than the usual 30 day,
because all the short-term data is screwy because of the holidays.
To read the rest of this entry (and get access to our free bonus trade), just click over to our iron condor options trading blog…