Currently on a historic annual volatility of 14% vs the mean this is low. FX has been quiet of late but if the major FX pairs start to see volatility and the Dollar index falls through this key level commodity index volatility will exponentially increase. An asymmetric trade to play off the low historic (below mean) average volatility in the commodities would be to use options directionally. In either direction would logically be correct so long as there a major new DX trend emerges. Many chart technicals in inverse and correlated instruments suggest the reverse. Ie weakness in the DX (US$ index) which would directionally imply a large option call position. When/if you combine correct directional trades with asymmetric instruments you have powerful combination.
Here a reminder chart on one commodity index the GSG.
All the best
Rich
