Crude’s volatility has picked up making its options richer. I am taking advantage by selling November premium. I anticipate buying back the strangle for a debit which will be less than the initial credit received. This will likely be possible as time passes, volatility decreases and if the price of crude does not make a severe unidirectional move.
Sold /CL Nov 36P/42C strangle for a 3.57 credit.