February 2017 GDXJ Strangle
Volatility remains low across the board leading up to the presidential inauguration on Friday. However, the VanEck Vectors Junior Gold Miners ETF ($GDXJ) is currently experiencing very high volatility. IV Percentile is above 82% which indicates that the implied volatility has only been higher than its current level 18% of the time in the past year. With so few products that have high implied volatility right now, I decided to place a trade in GDXJ this afternoon. I have not traded this ETF in the past and am just dipping my toe into the water with a very small position.