SPX idea

If you think SPX will chop around next few days, one could consider a calendar at 4750 (or 4700, or whatever level you think it will be on Friday). long 1/18 and short 1/14 for $5.5, a decent theoretical B/E range of +/- 50 points and 3:1 RR, with the 4% of IV skew

Alternative, could even take 1/24 1/14 calendar, with bigger debt, and a few more opportunities to roll. The monthly expire gives extra expiration + the weeklies.

Just thought to mention the idea here, I may not trade it myself b/c I have a few contracts that I rolled into similar structure