fuzzballl 8:18 am on Thursday, December 27, 2018
Tags: LEAPS ( 418 ), LongPuts ( 144 )

more UVXY

#LongPuts #LEAPS – Just to take all risk off for tomorrow on this fairly aggressive position…

Bought to Close UVXY DEC 28 2018 81.0 Puts @ .20 (sold for 3.10 total after multiple roll ups)

jsd501 8:21 am on Thursday, December 27, 2018

This one is on my radar but I want to be sure the bear market is over and then buy a bunch of long dated puts but not now.
- fuzzballl 8:24 am on Thursday, December 27, 2018
  
  Let me know when. I’ll add some more. I’m about 80 percent on the LEAP puts size so far just gradually adding. It’ll be back to 10 by 2021 so all these sales should go right to the bottom line…(assuming I can miss the whipsaw down).
  - john4419 8:30 am on Thursday, December 27, 2018
    
    Was your original Put LEAP at 50.00?
    - fuzzballl 8:44 am on Thursday, December 27, 2018
      
      Yes it was in this particular position. I think UVXY was around 60 when I started buying them. For simplicity all of my adds have been at the 50 strike just averaging down.
      
      The put sales are mostly ratio’d at about 3×2 or 2×1 for whipsaw protection. A big 2 or 3 day rally and a China trade deal and it’s back to 50 pretty quickly. If i remember right it was trading about 37 when all this volatilty started.

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