We've seen a bit of a rise in volatility this week, and while it is not something that should be ignored or scoffed at, I do think it offers us options traders an opportunity to position for some volatility mean-reversion, especially in some big-cap names that are stuck in ranges, ideally tightening ones.
Today's trade is in a well-known name that already has earnings out of the way and fits the bill for some continued sideways action.
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