商品期权波动性考量

It's a tough call. Historically, elevated IV often does revert, but sometimes it signals the start of a trend. I'm staying patient, observing price action before committing.

Anyone considering ratio spreads here? You get to sell some premium while still maintaining some upside or downside protection if things really move.

Definitely noticing the uptick in IV. I'm leaning towards selling some out-of-the-money calls in commodities where I think the upside is capped, hoping for that mean reversion to kick in.

Selling premium is tempting, but with the current geopolitical landscape, a breakout could be quite violent. I'm hesitant to put on large short vol positions right now.