Options strategy for the week

Before I begin any options strategy, I will say that I am still waiting for the market to get shellacked like I thought it was going to in August. Sure, there has been some good news, but neither the world nor the american economies are as robust as they were 3 years ago.

That being said, I do not want to bet on a direction of the broad market. I don't think the market should be above 10,000 but the market seems to think it's moving in the right direction. So rather than make any bullish or bearish bets, I'd like to trade on volatility  so that I can benefit whichever direction the market ends up moving.

Now to the trade:

I'm looking at a long straddle on AMD.
Buy July 9.00 Calls: 1.11 Debit
Buy July 9.00 Puts: .95 Debit

Net Debit: 2.06 per contract.

This strategy will be profitable if AMD moves above 11.06 or below 6.94 by expiry. I wouldn't necessarily hold this until expiry though, if the implied volatility is higher fifteen days from now than it is right now (48.22%), the move will not need to be as sharp as it does at expiry. So this bet is that volatility is going to increase.

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Performance check: AAPL Trade from August

At expiry the trade netted +$5798.00 per contract.