The July options for SPY doesn’t make sense to me.
242 – 243 strangle – 2.27
241-242 strangle – 2.43
Price of SPY – 241.8
Bought top strang yesterday – SPY at 242.5 – it lost money after a decent little move this morning. Why? It should be about 10% up, but it’s lost about that.
Options have higher volatility for calls, fyi.