The Federal Reserve's FOMC minutes, set to be released at 03:00 tomorrow, will provide detailed insights into members' discussions on the economy, inflation, and interest rate outlooks. This release is crucial for market participants assessing future monetary policy directions. Following last Friday's annual options settlement, block trades have dominated, influenced by low retail activity during the holiday period and the need to establish new positions post-settlement. Despite a high Put Block ratio due to poor Q4 performance, implied volatility (IV) has yet to rebound, with expectations of a recovery as market participants return next week. Overall, market liquidity remains low and sentiment is pessimistic, suggesting limited opportunities this week, with selling options to capture theta being a preferred strategy.