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I "try" to use most fitting metric to what I am doing, so typically, will focus on the specific expiration I am placing trades in. (I normally do not do time spreads, so single expiration is most common for me)

You may wish to consider implementing the method documented in the "https://cdn.cboe.com/resources/vix/vixwhite.pdf". Just simplify by a single expiration to address each independently. I tried it, but don't find it useful for me (I prefer using the ATM IV which has no skew). Guess it...

yes!

3 bows toward "LM3886"! You da man! I just added option to use business days instead of calendar days and the Monday Expiration anomaly (consistently lower IV of other expirys) is no more (AKA: Mystery solved)! Personally, I think they use trading days instead of calendar days as a "close...

I use calendar days, as does TOS! I think you may have solved the mystery! I suspect if I change to trading days, the consistent Monday expiry IV reduction will vanish! Thank you for your insight!

Unclear what your statement relates to as XLF has only Friday Expirations. Where do you find tradeable Monday expirations options for XLF?

YW: Trying to get more familiar with IV. -- Seems there is much to learn/see!

@destriero: I think you suggested to Sig, that making money off this "imbalance (pardon crappy terminology)" over weekend may prove illusive? (I hope not, but scratching my head)

Effectively moving money from option sellers to option buyers for weekends? (Option buyers get discounts for the weekend if using Monday Expirys?) Am I getting this correctly?

If you view the html file (zipped), you will observe ALL expirations and can observe that Mondays are consistently lower, with the nearer dated Mondays being lower than others! Friday expiry's are higher! (a period of heavy backwardation would likely be different, but this seems to be the...

A zipped html file attached with 0-30 DTE atm SPX IV for about a week of sampling. -- Note the lower IV of the monday expirations! -- The IV being posted is the ATM IV, so one point per option term per sample time.

Monday expirations of SPX are consistently lower IV than other expirations. What am I missing? (I am only focusing on SPX initially, but expect this is not unique to SPX) I'll post an example in a few minuites.

Wikipedia content is excellent info! Agree with Robert here. Naked vs Covered: For Calls, think long position and short call (for covered call), for Puts, think short position and short put (for covered Put). For Naked: thiink short call, no long position for naked Call; think short Put...

Buy SPY (or VOO), QQQ, and/or VONG in some fixed allocation, and hold till your retirement. Use the portion of your account you feel comfortable with allowing it to ride through market gyrations. This pullback presents a decent entry point. (Market timing best left to someone who thinks they...

With lack of detail provided (Expiration, strike, when you are referring to, etc) it is likely that responses to the post will only be "guesses". So, my guess is: with lack of liquidity, movement in the BID and ASK prices may appear odd. {Are you referring to the 17SEP21 55 strike...

EOM, Arrived on scene March 1st 2021,

YES! IMO: I am not a fan of using the "term IV" as it includes a mixture of IVs that is seldom appropriate for my focus. (it is influenced by SKEW) Either you are interested in effects of SKEW or you are not. If you are interested in effects of SKEW this is a sloppy method, and if you are not...

The IV value shown in TOS above and to the right of each Expriry represents what TOS uses as the current IV for that expiration. This value very closely approximates the value you would calculate if you use the CBOE VIX White paper method for computing the IV for a single expiration. (So, if...

If merely doing a trade: In TOS, one could do something like this entered as a 1st triggers OCO (Just copy&past the three lines below into the TOS order entry after configuring for 1st trgs OCO) BUY +100 TQQQ MKT GTC WHEN TQQQ STUDY '(open<=(close[2])*.98) and...

Curious why your image does not represent your question? An OTM IC would have OTM legs. Your PUT legs are ITM!