SVXY roll

#VXXGame Doing a @fuzzballl style #ReverseRoll on this one. My naked call was bound for #EarlyAssignment any day now so I finally closed it. Getting some of that premium back with an ITM put spread. If we have a significant drop before June, I can sell the long put and take assignment of the stock at a decent cost basis.

Closed $SVXY Jan 16th 97.5 call for 38.35. Sold as the 195 call for 6.25 on 1/6/17, exactly a year ago…. cost basis 3.125, so not a great trade!

Sold SVXY June 150/110 put spread for 18.40. So for instance if SVXY dips to 80 at June expiration, I would get the stock at 101.60 cost basis. I’ll be looking for another roll on the next pullback.