The biggest news for today is that Elon Musk bough Twitter, which from the options traders' perspective was very interesting: the volatility dropped from over 60 to below 0.1 so those who had a position on they made a massive profit irrespective of the price movement.
On another note, with the VIX at an elevated level again, there is plenty of opportunity to set up good trades but I would caution everyone from going long on the market.
It's also interesting to note that there is a roughly 1.5 month cyclical increase in the VIX, which can certainly benefit the patient options traders.
So what's my trade for today?
#VZ ( #Verizon ): it's past the earnings but was downgraded by some of the largest banks to Neutral so the price dropped again. The IVR is very high so the June 45/55 strangle is as safe as any trade and still returning over 100% annualised profit.
I don't expect this trade to be quick but it's certainly one of those super safe trades that I don't mind having, given the risky market conditions.