With the slight volatility spike today an interesting trade to enter would be an at the money asymmetrical fly. The trade would benefit from a drop in volatility once entered and also from rapid time decay. Looking at a possible trade entry as below: SPX November 24th expiration Buy 1 2535 put Sell 2 2575 puts Buy 1 2600 put Look to enter around $5.50 to $5.60 debit per spread Cost of trade is debit plus margin. Close at 10% profit or 10% loss based on the cost of the trade. Mark Fenton mark@sheridanmentoring.com