As I and the team have discussed on The Morning Show and this week's Options Jam Session, I'm on the hunt for opportunities to sell delta-neutral option premium with $VIX exploring higher levels than we've seen in recent months.
Today's trade is in a sector ETF exhibiting elevated options premiums and signs for extended rangebound action.
And October options are offering us enough premiums to trade strikes sufficiently far away from current action, beyond significant support and resistance levels.
As far as setups for delta-neutral premium collection go, this one checks all the boxes.
Here's the Play:
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