I wanted to get some insight with those on regular 3 to 1 Margin accounts with under 50k.
When selling naked calls/puts (especially calls right now) on NUGT/UVXY what is the max number of calls you sell?
Also, how did you fare in August with margin requirements when UVXY went from 40s to 90 in 2 days. For example, a 170 Jan 2017 call or March 165 call, even though way otm would triple or quadruple on the next big selloff.
Were you able to maintain those positions with say 25k in the account or should spreads be the call sale of choice.
Any insight as to how best play the #vxxgame with a smaller 3-1 margin account would be great.