Just a pure volatility play? Day trade them in and out? I tried to yesterday, broke even at the end of the day. But I don’t have big enough gonads to try that again.
I thought about it yesterday but like you I’m afraid to touch that toxic waste. If anyone gets in they should have some extremely tight stops set in place. FNM & FRE could go from .75 to 1.50 in a day or .75 to .25. I had thought about getting in right after the initial open after I thought we’d see a large capitulated sell-off, which we did, and riding it up past the 1.50 range. Well FNM went from 1.05 to ~2.00 in less than 10 minutes. Not really a trade that I’m crying over missing.
Sold my puts yesterday. Wouldn’t want to touch that with a 10 foot pole going forward.