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Yes, but it sure is quiet.

I recently added this board to my favorites in hope that there were people out there wanting to talk options. Friday I purchased a November spread staddle in Citi and a November staddle in the Nasdaq 100. With the recent ups and downs, I have been unwilling to pick a direction. So, I wait until something I want to own starts moving in one direction and buy the option that corresponds to that direction (e.g., calls when the stock is moving up). Once there is enough of a move (e.g., up), I then buy the option to cover a move in the opposite direction (e.g. down).

I have owned very few staddles over the years. Usually I buy options with a clear price direction in mind (e.g., I have Newmont calls that I purchased last month that expire in two years). But, with the market jurking up and down, it looks to me that the best risk/reward is one that pays for price movement -- not long term direction.

What are you doing?

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