Option Iceman 11:51 am on Friday, March 18, 2016
Tags: ShortPuts ( 4,763 )

$UVXY #ShortPuts – covered a…

$UVXY #ShortPuts – covered a short put that was in the money just a few hours ago, and replaced it with a new position.

Bought to close UVXY MAR 18 2016 24.0 Puts @ 0.18 (originally sold this long ago at 0.23)
Sold to open UVXY APR 1 2016 22.0 Puts @ 1.11 (half as many contracts to mange risk a bit)

vxxkelly 12:00 pm on Friday, March 18, 2016

I’m only short a fairly small number of puts Apr 1 $23’s and Apr 15 $23’s, but with my short calls soooooo far out of the money that they have virtually no delta so I actually ended up going delta positive on $UVXY. Never thought I’d see that day.
- Option Iceman 12:18 pm on Friday, March 18, 2016
  
  $UVXY – better to be lucky than good. UVXY is crashing again. Got out just in time
  - fuzzballl 12:22 pm on Friday, March 18, 2016
    
    The “Bernank” opened his mouth and said Fed still has plenty of ammo. Negative interest rates and more QE would be no big deal…think we can prepare for August 2015 redo after we ride this up again!
  - vxxkelly 12:59 pm on Friday, March 18, 2016
    
    I saw it crashing again so rolled my short puts into short strangles for credits.
    BTC Apr 1 $23 puts @ $1.77
    STO Apr 1 $20 puts @ $0.41 and $32.5 calls @ $0.61
    
    BTC Apr 15 $23 puts @ $2.84
    STO Apr 15 $20 puts @ $1.21 and $40 calls @ $0.77