Tom Sosnoff and Thomas Preston examines options trading skewness and its relationship with implied volatility (IV) and Delta, demonstrating its effect on asset tail risk. A study on 16 delta strangles reveals that higher VIX levels correlate with reduced negative skewness and better P&L outcomes, especially during high IVR periods, underscoring IVR's significance in profitable options trading. The discussion concludes with an update on market trends, including commodities and cryptocurrencies performance.