As expected, VIX has broken down below the support line. It's going to be incredibly hard for it to pick up at this point barring some new natural disaster. Keep in mind that a RECESSION does NOT mean VOLATILITY. Do not equate these two. Fear of recession will not cause VIX to go up.
If you're still holding puts as recommended last time, you can sell today or later this week if your exp date is soon. This is because the IV will continue to drop and your profits may decrease the longer you hold. If your date is way further out, you're safe to hold longer. If your strike is $30 or lower, I expect it to be ITM within a month.
If you're still holding puts as recommended last time, you can sell today or later this week if your exp date is soon. This is because the IV will continue to drop and your profits may decrease the longer you hold. If your date is way further out, you're safe to hold longer. If your strike is $30 or lower, I expect it to be ITM within a month.