Time for Iron Condors

See  our method to trade options for direction here

As we wind into Thanksgiving the liquidity providers have done a good job of squeezing out the holiday premium.  Nov 27 volatility in the SPY, from LiveVol Sigma, is a round 9.43 and will be lucky to hold the 9 handle as Thursday approaches.  Why?  Well the only easy to get the time premium out of the options is roll the days forward.  That will read as lower IV today.

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Another Weird VIX Shift

Volume was light in options trading today.  Volume was light in stock and futures trading as well.  Yet there was one odd creepy move today in VIX futures.  It started with a large buy order.  A customer bought 100,000 of the VIX Dec 27 calls.  From then on the VIX curve was bid.  Even as the VIX was flat the VIX dec contract was up more than 3%.  Quote the move on a day the S&P 500 was down 2 points.  Notice the 2 day shift.


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