#Hedges – @Kelly has inspired me to venture back into the belly of the beast. This is similar to my recent “beer money” trade. Going out to March and selling put spreads to finance call spreads and doing it all for a credit. I’ll be looking to book it on any decent spikes. Might sell a few extra UVXY calls while I’m holding this…

Sold VIX MAR 20 2020 15.0/13.0 Bull Put Spreads
Bought VIX MAR 20 2020 17.0/22.0 Bull Call Spread

Entire package for a net credit of .06

Max gain of 5.06 but would probably book it at much less than that. Max loss of 1.94 if VIX is below 13.06 at expiration.