Sold puts against synthetic short stock. Got caught in the volatility collapse around the election. Instead of chasing these down all year I’m rolling them out to the synthetic short expiration. Capping my gains but should be able to close earlier at some point for good gains. Below 35 at expiration makes max profit.

Rolled VXX Feb 21 2025 47.0 Puts to Jan 16 2026 35.0 Puts @ 1.50 credit (2.30 total now)

Synthetic position is Jan 2026 55/55/85 @ 10.00 basis

Got into most of these at 16 or 17 dollar debits each. Gradually added while reducing basis selling the weekly puts. Got that down around the 10 area so not bad. Max profit about 10 dollars. If I can get 5 or 6 and close early that will be the goal.