Looking at IV's in the FANG stocks there is one major theme....they are STUPID CHEAP. If you can't find an option to buy, you are probably a jerk.
The only one I remotely don't want to own is NFLX. The rest look like steals.
There is huge open interest on the Aug 220 strike in SPY,
The SPX is at an all time high, yet vol in the SPX has stopped dropping. If anything it might have crept higher.