UVXY spreads & overall approach

#VXXGame My attempts at legging out of the $UVXY Dec 21st 50/60 call spreads were also a failure, but only a bit worse than allowing them to expire. Sold for 5.68 (avg price), some will expire for 10.00, some closed for 10.60, and assigned short shares on a couple others, cost basis 69.43.

Also, I took off some risk this week without rolling. First we’ve experience a market like this 2008, and I wasn’t trading then. I hold very few short options positions compared to many times in the past, and my remaining short $UVXY calls are hedged with a greater number of long calls, albeit much further OTM.

Suffice it to say the only thing working right now are the 1-day SPX condors. I’m finished trying any more directional positions until market is clearly finished with this. If we go much lower, I will continue to shed positions slowly.

BTC $UVXY Mar 15th 75 call for 16.00, sold for 6.125, avg price, in Sept/Oct
BTC $UVXY March 15th 95 call for 10.15, breakeven, sold for 10.15 in late October.

Closed $SOXL Feb 15th 75 put for 12.70. Sold for 7.00 as a roll.

SPX 1-dte

#SPX1dte I tried to leg out and leg in to the condors today. I continue to suck at those attempts like no other. This time, I paid more than necessary to exit today’s condor, but still with a profit. I was mildly successful at legging in to Monday’s.

Closed $SPX Dec 21st 2355/2375-2550/2570 condors for .60 total. Sold for 1.05 yesterday.

Sold $SPX Dec 24th 2270/2290-2490/2510 condors for 1.40 total.

So much for the Santa…

So much for the Santa Claus rally this year. I hope some of this is tax lot selling and we rebound in the new year.

I will be adjusting more positions next week when we re-open.

Merry Christmas everyone!

T2108 update

Almost at the close, T2108 is 5.60.

UVXY

#LongPuts #LEAPS – Quick scalp from the extra sale this morning and an aggressive sale for the short week…

Bought to Close UVXY DEC 28 2018 67.5 Puts @ .25 (sold this morning @ 1.00)

Sold UVXY DEC 28 2018 75.0 Puts @ 1.45

Econ Calendar for week of 12/24/18

Screen Shot 2018-12-28 at 10.29.54 AM

Screen Shot 2018-12-21 at 10.31.53 AM

Link to calendar: https://us.econoday.com/byweek.asp?day=24&month=12&year=2018&cust=us&lid=0

WTW

#LongCalls #LEAPS – Prior sale is over 50 percent green and the one before that is practically worthless. Staying out in time and adding outside the expected move.

Sold WTW JAN 11 2019 46.0 Calls @ .70