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Volatility
Options fall into the category of being slightly undervalued in non-volatile markets in the weekly options report.Notes:
Contract Size - $50 x S&P 500 Index.
Tick Size: Outright: 0.25 index points=$12.50
Trading Hours: CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET) with trading halt 4:15 p.m. - 4:30 p.m.
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E-Mini S&P
Below are both weekly and daily charts for reference.
Daily chart below.
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Strategies
Below are illustrations of vertical spreads based on a 1 lot using weekly options that expire in 12 days as of this post (Mar 29th). These are explained in Paul's 2nd book, "Intro to Advanced Option Spreads" with a section dedicated to trading weekly options.