There was a good article published at Zero Hedge today: http://www.zerohedge.com/contributed/2014-05-23/trading-floor-insights-brad-thomas Part of the article says: "Now one can easily simply buy straddles in all of these markets. I expect you’ll only need one or two of them to surprise volatility sellers, resulting in you getting that new Porsche 911 you’ve been looking at. By buying straddles you don’t have to care which way the market moves, as long as it moves and complacency disappears or even subsides sending volatility higher. Right now Chris and I have been discussing a 4.5 year long dated option, which I’ve recently recommended. The particular stock needs to move by 9%! 9 freaking percentage points! Just yesterday it moved 1% in a day! We have 4.5 years to break-even. Opportunities like this don’t roll around every day but right now we have a plethora of them and I’m feasting." Is anyone looking at longer term straddles or strangles?