Borrowing an idea from TastyTrade. Sold $TTD Sep 16 45/65 strangle @ 4.11. Earnings after the bell today.
#SPX1dte No trade for tomorrow as I will be traveling and don’t want to tangle with the CPI report release (inflation for July).
Expected to expire today: $SPX Aug 9th 4055/4075-4205/4225 condors, sold yesterday for 1.30
The idea of the #VXXContango trades was that VXX was a wasting asset that was bound to lose value over time from the contango losses that happened when VIX futures contracts were rolled forward each month.
However, VXX appears to be broken due to Barclay’s having issued many more shares than they were allowed. As such, I’m switching this strategy over to UVXY as it tracks the VIX index more closely and has a more predictible contango loss.
My first trade in this name in a while:
Bought to Open UVXY Dec 16 2022 4.0 Puts at $0.17
Sold to Open UVXY Aug 12 2022 9.5 Puts at $0.20 for a $0.03 Credit for the first week.
Long DTE = 129
Short DTE = 3