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VolatilityOptions fall into the category of being slightly undervalued in non-volatile markets in the weekly options report.
Contract Size - 100 ounces.
Tick Size: Outright: dollars and cents with 0.10 points=$10
Trading Hours: CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (CST).
Below are weekly & daily charts for reference.
Below is the starting position for an calendar spread. It allows for time to adjust the spread structure if necessary as price moves within a reasonable range of daily volatility. Last week I illustrated a bias to the upside while this position starts delta neutral and could be adjusted either way.
The % yield shown in the diagrams below represent an estimated return on margin from projected dates shown below. The structure has positive time decay which is an advantage over holding outright options.