Adding convexity in Nasdaq100 Nasdaq is back near to the top of its annual range and implied vol at the low (strangle July 7050 call – 6960 put at 14% Ivol), versus a realized vol around 20% Look like a great level to initiate cheap gamma exposure to Fang You Might Also Like Close long WTI crude oil for a 5.2% return & buy CVX, HAL & SLB June 22, 2018 Take profit on Short ESZ8 below 2716 October 23, 2018 Close short on XLF December 20, 2018