Post-Brexit vote in late June, when VIX spiked to >25 (signalling a premium selling opportunity in broad market instruments like SPY/SPX and RUT/IWM in the July expiry), there has been but one >15 spike to >20 in mid-September that allowed for some premium selling in the October monthlies, which have since come off in profit in the ensuing crush.
Consequently, I'm back to sitting on my hands waiting for another >15 VIX spike to sell premium in SPY/SPX or IWM/RUT in a November expiry and/or managing the small number of plays I have on as covered calls or premium selling in sector ETF's like GDX and XOP , where the implied remains high compared to what it is in the broader market (48.4% and 35.5%, respectively).
CAN THIS SEASON NOT SUCK FOR PREMIUM SELLING?
Naturally, I'm also watching potential plays, but I waved off many of those last season because they weren't up to snuff. Generally, I'm looking for those to have implied above the 70% percentile for the past 52 weeks and implied above 50%, and there haven't been many of those around of late due to general market lull. The first play of interest to me right now with a >70% implied rank is EBAY (10 days out), but its implied remains below 50% (35.2%)