IWM’s Surge in Unusual Options Activity Signals Opportunity — Here’s a Covered Strangle With a Twist

With the Iran war set to enter week four on Saturday, reports that the U.S. is considering taking over Kharg Island, Iran’s primary oil-export hub, are sending S&P futures lower and oil prices higher. 

I see plenty of news stories about the American consumer’s worries about gas prices; if it makes you feel better, here in Nova Scotia, where I live, a liter of gas (about 3.79 liters to a gallon) is CAD$1.744. Converted to U.S. dollars, that’s $4.83 a gallon, 24% higher than the U.S. average of $3.88. It can always be worse, but I digress.