Since Vix is high we can sell puts at the money for easy returns, for instance, December expiry puts or calls.
We can take a long stock/short calls position alternatively, but puts should be a good idea for sure.
Buy/write: 35 strike calls / Jan '17 20th expiry. Determine the amount of shares based on stop distance, risk 0.5-1%.
Write: at the money puts with same expiry.
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