Is playing the OCC probability a thing? The SPY will be paying a dividend this month.
* If the price of the dividend is priced into option, you could sell a deep ITM call and hope you do not get assigned. If you are not, SPY should drop by the dividend amount. (hedged long)
* If the price is not completely priced in, you can buy the option for under parity and exercise. (hedged short)
* If the bid/ask is too wide, you bid in the middle and have a buddy sell you the option. You exercise, he may not be assigned. ("risk free". Sketchy)
Posted by williego