Looking at the options

Right now, trying to profit from the actual instability through an ATM straddle is pretty expensive. Friday morning it was running at about 140/64. Today this is a bit better but nothing to call your grand mother.

So you might just want to wait until the beginning of October, next Monday, to put on iron
butterflies. These butterflies performed in a stellar way, especially if you sold the most expensive option on September 7th, bringing home a bit less than 2 bucks in. Altough, past performance is no indication for the future and this is especially true for October. Looking at the two preceding years, October has always been a rough month for these strategies....