Adding on to Friday's post, here are some trade ideas for this today!
$TUR - Play the volatility in Turkey directly by trading options in the Turkey ETF. I would recommend waiting another day or two even before positioning, but definitely would NOT have a directional play. Delta neutral Vega short is absolutely the way to play this. Because of the ETFs low price, I would trade either an Iron Fly or a very tight Iron Condor, again, in a day or two. IV is insanely high and so even if you wait and it drops a bit, it will still be high enough to "short."
$FXE - Playing the Turkey volatility indirectly by trading options on the Euro ETF. This trade looks good today: Sep28 104.5/107.5/111.5/114.5 Iron Condor @ 0.80. Good risk-reward, assumes that $FXE will remain below the recent lows over the medium term.
$TSLA - there have been rumors swirling about a buyout and Musk is in some hot water over misleading tweets. Either way I think the hubbub dies down over the coming weeks. I like the Sep28 300/305/395/400 Iron Condor, allowing for a roughly 12% move in either direction (as of writing, $TSLA can be a mover!)
