Crude oil volatility is a good buy right now.

Implied volatility has now fallen to 33 as market concerns about a European financial crisis have subsided. The market appears very complacent in my view. This should be a good place to either buy back any calls sold earlier or to neutralize a short volatility position by buying long dated crude oil straddles. I would not increase delta (crude oil exposure) right now but would want to neutralize any short volatility position.