VXX Puts

Bought to open VXX Mar 18 2022 10.0 Puts at $0.01
Sold to Open VXX Feb 04 2022 19.0 Puts at $0.20
Short DTE = 8
Long DTE = 50
The long side of the spread is just to lower the margin requirements by 10 points per contract vs. a outright sale of the put as a cash backed trade.
And it’s an ultra-cheap lottery ticket.