Jeff 12:04 pm on Tuesday, March 29, 2016
Tags: VXXGame-New

#VXXGame-New all-time low in UVXY…

#VXXGame-New all-time low in UVXY notched today, exceeding the low of 21.25 from last Tuesday.

Meera 8:28 pm on Tuesday, March 29, 2016

Has anyone been assigned UVXY? If so, do you usually write a covered call against it? I am short call SPY and short put UVXY both are hurting pretty bad. I can roll my SPY but the bid ask spread for UVXY is pretty wide and every day market keeps going up and UVXY sinking… Any thoughts?
- Jeff 5:30 am on Wednesday, March 30, 2016
  
  I try to avoid being long UVXY stock, but @optioniceman will carry it more often, and yes, definitely sell calls against it. I am also short some UVYX puts and have been rolling them as necessary to avoid going too much ITM. I also have been rolling SPX call spreads before they become ITM. Since the VIX upside warning fired on March 15th, you need to be wary of continued higher market and drop in volatility. It is unclear when the push higher will slow (it did slow for last couple weeks, and now may be resuming again) but safest bet is to expect to reach the pre-correction November high of 2116.

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