Group 1 - The VIX Index has closed at 16.28, indicating a return to low volatility levels not seen since 2025, which makes options cheaper and presents opportunities for Long Straddle trades [1] - Arm Holdings (ARM) is identified as a stock with potential for significant movement in either direction due to its current negative Gamma [2] - A Long Straddle is an advanced options strategy that profits from large price movements or increased implied volatility, requiring the purchase of both a call and a put option [4] Group 2 - The Long Straddle trade on ARM involves buying a $140-strike call and a $140-strike put, with a total premium of $2,810, which represents the maximum loss [6] - The theoretical maximum profit from the Long Straddle is unlimited, but the position incurs daily losses due to time decay if no significant price movement occurs [5] - The lower and upper breakeven prices for the trade are $111.90 and $168.10, respectively, with estimated breakeven prices at the end of October around $122 and $157 [6]