fuzzballl 7:10 am on Tuesday, November 17, 2015
Tags: VXXGame ( 769 )

SVXY…I’ll keep shorting you until I’m wrong

$SVXY – I’ve got enough short puts that I can hope these get in trouble. Long enough XIV in my 401k that I can really hope these get in trouble!

Sold SVXY DEC 18 2015 65.0 Calls @ 1.55

#vxxgame

vxxkelly 8:22 am on Tuesday, November 17, 2015

$SVXY hasn’t been performing very well and if the market remains rocky, likely won’t work well for quite some time. So I’m significantly cutting back on my short puts. Also impacted by my already owning all the stock that I really want right now. Would be a bit more aggressive with Put selling if I didn’t own any shares. Re-covered all of my stock yesterday and today. If $SVXY gets back above $60, will look for opportunities for double over-writes and potential weekly scalp trades. Going to work hard to get rid of the shares I have.

Spending much more time with $UVXY now.

Was looking at those Jan’18 Calls. $70 is the highest strike, but was really intrigued by the delta on those (.74). On the next volatility spike, those are likely the calls I’m going to be selling. A spike would take the delta to probably near .90 so would be a great way to plan. Don’t worry about holding them, sell them for $25, buy them back @ $15. Lather, Rinse, Repeat….
- Jeff 8:42 am on Tuesday, November 17, 2015
  
  #VXXGame This is much like after the Oct 2014 correction. $SVXY could not get off its butt and move higher for a long time. Finally started moving in April/May, but after getting slammed again in August is back to dithering. Meanwhile $UVXY’s behavior is much more in keeping with tradition… it heads quickly to lower lows after every correction.
  - fuzzballl 9:14 am on Tuesday, November 17, 2015
    
    Agreed….just wallowing along not doing much. Selling these short term calls has been working great. Fairly big short put position I’d like to thin out so this is something to do while waiting.