TLT Implied Volatility @ lower end of range (25%). Looking to initiate a long calendar with a few embedded rolls.
Note: Looking for price to be somewhat range bound (106 – 109.75). This is a +ve vega trade – an increase in IV would help.
BUY +10 CALENDAR TLT 100 MAY 14/APR1 14 108 CALL @.61 LMT (# of contracts to be tailored to match desired position size)