While many traders are talking about the low VIX (in IV terms yes, in HV terms debatable), under the radar is a different type of volatility sell off, commodities and precious metals.
I was recently having a discussion with a group of option mentoring students on Calendars. The calendar that we were trading was making money, but it was strange.
Most option traders can get delta, and even the weighting factor. Gamma seems to be different; I often have new options mentoring students that do not have a full grasp of how gamma works.
