Jeff 10:49 am on Monday, March 27, 2017
Tags: CondorRoll ( 191 ), SPXcampaign ( 2,265 )

SPX puts closed

#SPXcampaign Bought to close $SPX April 3rd 2325/2300 put spreads for 5.05. Sold as part of a #CondorRoll last Tuesday for 7.80.

The call spread I sold this morning will act as a roll for this spread. I stopped it since it started the day ITM, so I’m not giving it another chance to explode.

walter6871 1:39 pm on Monday, March 27, 2017

I want to get my feet wet with SVXY and such that I see ya’ll do a lot of here.

Is there a resource you can direct me to or some logic.

I ended up here from Karen the super trader yahoo site. I find very interesting your trades. Are the calls naked? and puts cash secured?

thanks for any help
Walter
- Jeff 10:43 am on Tuesday, March 28, 2017
  
  Hi Walter… the only resource now is the posts on this page. You can use the Menu at the top of the page, Hashtag Strategies/VXXGame.
  
  The idea is simple: in times of volatility, UVXY moves up and SVXY down. When these volatility spikes occur, sell UVXY calls (or call spreads) and SVXY puts (or put spreads). Normally, volatility will soon relax and your positions will be closed cheaply or expire.
  
  However, if volatility remains heavy for several days or weeks, many of your short options will go underwater. This is why you have to be careful with your position size in relation to your account size. If you manage it correctly, your account will experience a drawdown for many days, until the market relaxes. Then profits will roll in.
  
  You just have to be careful that your account will not explode if we experience a bigger volatility event.
  
  I’m developing more features to cover these strategies in the future, but for now I suggest asking traders on Bistro any questions you have when you see their trades. I also recommend starting with small positions and/or spreads.
  - walter6871 1:52 pm on Tuesday, March 28, 2017
    
    Jeff
    thanks
    I will start small,all information is appreciated.
    Walter