#RiskReversal Taking the lowered $VIX as a sign of a move to new all-time highs. This one is tighter than I usually go on risk reversals, and I’m doing that because the vast majority of these expire worthless on both sides, but usually do result in some move toward the long side and no threat to short side.

Sold to Open May 10th 5050/5030 put spreads, delta -.10
Bought to Open May 10th 5240/5260 call spreads, delta +.07
Total CREDIT +.10