Ramie 8:38 am on Thursday, June 23, 2016
Tags: VXXGame ( 769 )

SVXY covered calls

Sold $SVXY Jul 22 (weekly) 65 call @ 2.31. Continuing to slowly sell calls against my long position as SVXY moves up.

Bob King 9:02 am on Thursday, June 23, 2016

So why did you pick such a long maturity (July 22)? Thanks.
- Ramie 9:09 am on Thursday, June 23, 2016
  
  I have a large stock position that I’ve been selling calls against on up days. I’ve been spreading out the strikes and expirations so I’ll have a higher likelihood of being called out of some of my shares (or roll the calls up), and have some of the calls expire. I’m willing to let this particular lot go at 65 a month from now if SVXY is well above that by then; my cost basis on this lot is well under the strike so I’m profitable on an assignment. And if we get a swoon in the market between now and then (Brexit or otherwise) I’ll probably be able to take the calls off for a nice profit.
Ramie 12:00 pm on Thursday, June 23, 2016

Sold another call against my long position.
Sold $SVXY Jul 15 65 call @ 1.95.

#VXXGame

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