#Earnings For your consideration, some of our favorites today:
$ADBE, $AVGO, $ULTA, $TIF
Recent Updates Page 347
Good Morning
Good Morning
Happy PIE day, 3.14 to…
Happy PIE day, 3.14 to all you fellow math/science geeks out there!
Closed Early BABA Puts
Closed Early
$BABA BTC 3/16 180/185 BUPS at .10 STO at 1.60
SPX trades
#SPXcampaign I’m taking off the Upside Warning for now as the current condition is hard to pin down. We could still be in the larger correction and preparing to test the lows. It seems the tariff issue could be a huge a catalyst now, what with Boeing leading the Dow down today. I think any announced relaxation or elimination of the plan could drive us higher. But if not, sideways to down seems the trend.
Sold to Open $SPX Apr 13th 2600/2575 put spreads for 1.60.
Sold to Open Apr 13th 2870/2895 call spreads for 1.80.
Stopped April 13th 2650/2625 put spreads for 2.85.
#Rolling Sold $SPX April 20th 2595/2570 put spreads for 2.00, 1.5x position size.
Fuzzy trades
I closed the following today:
WYNN, 185 165,165,160 @33.55, bought @ 32.71
BABA, 190,190,185 @38.50, bought @ 34.95
STO CME April 20, 175 calls @ 1.05, against my 160,160,155 fuzzy
Closing STMP post-earnings trade
Bought to close $STMP Apr 20 230/240 BeCS @ .80. Sold for 1.72 on 2/22.
Taking off some more long term UVXY risk
Not much left here so closing them out. Pre-split strikes (from 1:4 split on 7/17/17).
Bought to close:
$UVXY1 Jan 18 2019 60 calls @ .10. Sold for 6.15, 7.30, 3.20, 3.60 and 3.15 from March-August 2017.
$UVXY1 Jan 18 2019 55 calls @ .12. Sold for 3.50 on 5/17/17.
#pietrade STO NSC 30 DTE…
STO NSC 30 DTE 131 put at 1.05. 10 points OTM currently. 5 contracts.
My several rolling tickers in the core accounts are now NSC, UTX, ERX, GM, FAS, ANDV although I may replace GM, it has not been trading as well as it used to.
I have been selling #pietrades into strength, meaning selling the puts on the days the ticker is down a fair amount.
Should have a few more tomorrow, maybe or I might go skiing, season winding down in mid atlantic but still some patches of snow to make a few turns.
JPM
#SyntheticStock – BTC JPM Mar16’18 119 calls for 0.04, sold for 0.27. Gonna wait a bit to sell calls for next week.
SPX indecision
#SPXcampaign With a third day of weakness I have no choice but to switch from bullish to neutral/bearish positioning. The VIX action had been pretty anemic until the significant pop in the last 10 minutes.
Closed $SPX March 16th 2765/2740 put spreads for 8.75. Sold Monday for 4.00.
#CondorRoll: Sold March 21st 2700/2725/2790/2815 condors for 8.00.
Sold April 13th 2600/2575 put spreads for 1.60.
VRX
#SyntheticStock #Tastyworks – Rolled short calls out and up…
Rolled VRX 03/16/18 16.00 Calls to 4/20/18 17.00 Calls @ .15 debit
Originally sold these for .21 so still sitting on a slight credit. Looking to close the whole thing if overall delta reaches zero…
PS…I like Think or Swim better so far…
#coveredcalls #fallingknife SIG Tradewise new…
#coveredcalls #fallingknife SIG
Tradewise new “covered call advisory” is buying 100 shares of SIG, 39.35 now and selling the April 35 call for about .50. SIG is down 17%, over $8 so far today after earnings. It was up around 76 before the previous big earnings drop. I don’t understand this one.
DG earnings
#Earnings Sold to Open $DG March 16th 84/94 #ShortStrangles for 1.60. Biggest UP move: 10.7%, Biggest DOWN move: -17.6%, Average move: 5.6%. My strikes are +/-5.6% OTM.
Here are the last 12 earnings; you can see other than one big up move and one big down, it’s not a big mover.
Dec. 7, 2017 BO 2.77%
Aug. 31, 2017 BO -5.43%
June 1, 2017 BO 6.54%
March 16, 2017 BO 0.53%
Dec. 1, 2016 BO -4.96%
Aug. 25, 2016 BO -17.62%
May 26, 2016 BO 4.61%
March 10, 2016 BO 10.66%
Dec. 3, 2015 BO 4.23%
Aug. 27, 2015 BO -3.18%
June 2, 2015 BO 2.98%
March 12, 2015 BO 3.96%
Closed Early SPX BIDU WYNN / Short Puts MZOR MU SCHN SPX
Closed Early
#spxcampaign
$SPX BTC 3/23 2800/2775 BECS at 9.50 STO at 2.80
$SPX STC 3/14 2810/2830 BUCS at 3.50 BTO at 2.20 Thank you @jeffcp66
$SPX STC 3/16 2840/2860 BUCS at 1.80 BTO at 1.70 Thank you @jeffcp66
#shortputs
$BIDU BTC 3/16 270/260 BECS at 4.00 (GTC Stop) STO at 1.92
#longcalls
$WYNN STC 3/16 165 calls at 25.20 BTO for 9.80 on 1/30 All gone now.
++++++++++++++++++++++++++++++++++++++++++++++++++++
Trades
#shortputs
$MZOR STO 4/20 70 puts at 2.80
$MU STO 3/16 57.5 puts at .80 Thank you @honkhonk81 Good luck to all
$SCHN STO 4/20 36 puts at 1.45
#spxcampaign
$SPX STO 4/20 2650/2750 BUPS at 19.00 Thank you @fibwizard
Danger?
#VIXIndicator I don’t know about you, but after what we’ve been through since January, these two little up days on the VIX look like child’s play. I’m sure questioning this “Upside Warning,” but not sensing a lot of fear, despite two weak days.
SPX puts stopped
#SPXcampaign Closed $SPX March 14th 2775/2750 put spreads for 10.40. Couldn’t risk a further gap down overnight.
X straddle
Borrowing an idea from one of the TastyTrade traders.
Sold $X Apr 20 40 straddle @ 4.70 with the stock at 40.21. Breakevens 35.30/44.70.
Will take off for 25% profit (3.50 or less).
OLED roll
#Earnings #ShortStrangles Rolling these to avoid early assignment:
Closed $OLED March 16th 135/140 strangles for 9.00 (closed only puts, will let calls expire). Sold for 12.85 on Feb 23rd.
Sold to Open OLED April 20th 130/140 strangles for 11.80. I got 5 points wider with a 2.80 credit.
Original trade: sold 130 puts for 2.18. Closed for 10.40.
Total credit in trade: 7.43
#shortputs X dropped today. Possible…
X dropped today. Possible trade?
United States Steel (X) dropped nearly 6% after Vertical Research downgraded the shares to sell from hold and lowered its price target to $23 from $41.
BBBY
BTO BBBY May 18 22.5/22.5/20 .98 2x #Fuzzy No Hedge at this time
Closing DRIP
Took all my short calls off in this ticker at most of the profit. Completely out of it now and will look to re-enter on the next big swoon in oil.
Bought to close:
$DRIP Apr 20 24 call @ .15. Sold for 1.70 on 2/9.
$DRIP Apr 20 25 call @ .15. Sold for 1.90 on 2/9.
$DRIP Jun 15 28 calls @ .40. Sold for 1.56 on 2/8 and 2.50 on 2/9.
#pietrade STO the 16 DTE…
STO the 16 DTE ANDV 96 put at 0.95.
This was my best performer when it was TSO, was reborn as ANDV but was having trouble finding a range after the merger. Looks like it has stabilized and the options are trading with decent volume again.
I am tweaking the #pietrades a little. Account is big enough now to move up to 5 contracts on 3 tickers at a time. Was doing 3 contracts on 4 names but I think reducing the # of tickers will actually improve returns.
SPX
STO Apr 2018 2650/2750 BUPS for 15.10
QQQ
Rehashing SVXY/XIV
We’ve been through this quite a bit and it seems like all the facts are known about what happened. I saw this article, however, by the venerable Lawrence McMillan. His knowledge and experience give the whole thing a lot more context and color.
https://seekingalpha.com/article/4155721-xiv-scapegoat-markets-decline
#shortstrangles MU From Tastytrade April…
From Tastytrade April 20, 50/75 strangle for 1.98, MU is at 60.
EXPE
#longputspread AAPL AAPL has gone…
#longputspread AAPL
AAPL has gone from 157 on Feb. 9 to 182 so far today. Taking a chance with a March 23, 185/180 long put spread.
#shortcalls Sold NUGT Mar 23…
Sold NUGT Mar 23 $25 call for 0.55, stock at $23.90, keep reducing basis of stock originally $38.00 nearly top ticked it. Current basis $32.10 and working it.
#shortcalls Buy to close NUGT…
Buy to close NUGT Mar 16 $26 call for 0.10, sold 3/7 for 0.54 naked call.
edit NUGT not UVXY
SPY
Closed Fuzzy very small profit, Hedges and rolls got me, glad to close with a small profit was losing badly a few days ago.
#spxcampaign BTC the short Mar…
#spxcampaign BTC the short Mar 23rd 2870 Call for 3.00 when SPX was at 2795.54. I plan to close the long side out later.
MCD
Closed Fuzzy BTO on 3.8 250.00 profit, hedge got me again. 155/155/150
MTN
BTC April 20, 210 put @ 2.25, sold @ 5.80
SPX Expiration
$SPX 3/12 2735/2760 BUPS STO at 3.40 on Friday Thank you @jeffcp66
March 12 #Fuzzy Land Very…
March 12 #Fuzzy Land
Very excellent day here. All of the unhedged #Fuzzy that I opened on Friday were closed today for over 50% profit–and I pretty much had a lot of them. Q’s were reset and again closed for a lot of profit. Closed Fuzzies for the quarter now have a 47 handle! I’m still shooting to regain that 50 that I had in January.
Opened some new unhedged Fuzzies today in SPY, but when I saw resistance and rising VIX I atomicized them. Here is an example:
SPY #AtomicFuzzy April Expiration: 280c/-280p/277p @ 2.93 x 21 contracts, 284/288 Call credit spread @ .92 x 36 contracts.
I’m flat on Q’s right now, they are showing signs of trend exhaustion right now, so I’ll be patient for the right entry.
SPX puts expired
#SPXcampaign #OptionsExpiration
$SPX March 12th 2760/2735 put spreads expired. Sold for 4.85 on Friday.
#pietrades #sellingpremium A guy I…
#pietrades #sellingpremium A guy I like to read, George Acs
Happiness With A Losing Trade
https://seekingalpha.com/article/4155510-happiness-losing-trade?app=1&uprof=45&isDirectRoadblock=false
AAPL covered call
#CoveredCalls #CoveredCallCampaign
Sold to Open $AAPL April 13th 190 call for 1.30.
BIIB
#ShortPuts #SyntheticStock – Looking to back into a #SyntheticStock position. Since it’s in an #IRA also bought some junky puts for margin. All done in the week before earnings…
Sold 1 BIIB APR 20 2018 260.0 Put @ 2.80
Sold 1 BIIB APR 20 2018 255.0 Put @ 2.10
Sold 1 BIIB APR 20 2018 250.0 Put @ 1.60
Bought 3 BIIB APR 20 2018 220.0 Puts @ .40
Net premium received of 5.30 (1.76 average)
#shortputs JCI sold April 20,…
#shortputs JCI
sold April 20, 37 put for .59. JCI is a Tradewise covered call rec. This gives me a 37/39 strangle, the 39 call being covered. JCI does not have weeklies.
Long VXX spreads
Continuing with this strategy and applying profits to accumulated SVXY positions. Should start to be able to peel some of these off soon.
Sold to close $VXX Mar 16 48/46 BePS for 1.88. Bought for 1.24 on 3/1.
Bought to open $VXX Mar 29 41/36 BePS for 2.56.
An actual Options Bistro
When in Edinburgh, Scotland, be sure to dine at Options Bistro!
(no affiliation with Options Bistro)
SPX Campaign
#spxcampaign
$SPX STO 3/14 2750/2775 BUPS at 6.00 Thank you @jeffcp66
#optionladder STO UTX 25 DTE…
STO UTX 25 DTE 126 put at 1.13. Good support at 129 and 125.
KOLD closed
#ContangoETFs BTC $KOLD April 20th 55 call for .10. Sold for 1.40 on Feb 9th.
#shortcallspreads TSLA The Tradewise “volatility…
#shortcallspreads TSLA
The Tradewise “volatility advisory” has recommended a 360/362.50 April 13 call spread. I moved it up to 365/367.50 for .75 each, just less than their .84.
SPX reverse roll
#SPXcampaign Made these trades before the dip, so not ideal timing, but my $SPX position is now 100% bullish. I would be more comfortable with a lower VIX, so I’m still cautious.
Stopped: closed $SPX Apr 6th 2870/2895 call spreads for 3.50. Sold Friday for 1.75.
#ReverseRoll Sold March 16th 2765/2740 put spreads for 4.00
Getting out of SIG
I’ve been waiting for an opportunity to clear my existing (small) positions in this stock. With the latest news that they’re being replaced in the S&P 500, and with earnings coming up this week I decided to take the opportunity to get out for close to even (small profit). Selling puts was very profitable over the last year and a half, but that’s it for me with this name.
Bought to close:
$SIG Apr 20 40 put @ 1.30. Sold for 2.30 on 11/24.
$SIG Jul 20 35 put @ 1.55. Sold for 1.35 on 1/10.
Closing HES a couple of months early
Bought to close $HES May 18 35 puts @ .20. Sold for 1.10 on 12/14.
#fuzzy MSFT Sold a March…
#fuzzy MSFT
Sold a March 16, 98 call for .32, stock is at 96.81
#fuzzy UNP January 26, followed…
#fuzzy UNP
January 26, followed some others into a 135/135?130 March 16 fuzzy. I sold a Feb. 2, 135 call, rolled to Feb. 16, 136 call, after it expired sold a Feb. 23, 136 call and let it expire. UNP has swung about 15 points in the last month along with the market, making it a rough fuzzy. I closed it today making 231. In this case,the hedges provided 181 of the 231. I consider myself fortunate to be out with a gain.
Short Puts NKTR / Close Early SVXY Calls
#shortputs
$NKTR STO 4/20 90/100 BUPS at 3.00 The are being added to S&P 500 on March 19th
#vxxgame
Closed Early
$SVXY BTC 6/15 160 call at .05 STO at 8.70
CBOE Fuzzy
STC 2020 Fuzzy long position @ 17.80, sold at 12.50,
Mini experiment, if it works…
Mini experiment, if it works will call it #syntheticcoveredcall although that hashtag already exists I think it is appropriate. @jeffcp66 if you want to change the name let me know.
Ok, here is the set up. You have to have a slight directional bias or at least think it is going to be flat or only down/up a little. But you can get about 10% protection.
Buy a deep ITM call or put and sell a slightly ITM call or put as a vertical. I used to do these and they generally worked, but had one go out worthless once and just stopped doing them. Now that I know how to roll options much better this may work out better than CC. Also I think bigtrends and hughes used to do a lot of these.
So I was just filled on 25 DTE ERX 21/26 call spread for 4.42. It went through quickly, could probably get a better price. 10 contracts max risk 4450 or so and max profit 580. 13% return in 25 days compared to the CC which would only be 3.5% and much less out of pocket expense.
What could go wrong, deep correction. Break even at 25.54. If we start dropping below that I can either buy some puts or roll the entire spread down, probably at even or slight debit.
Either way, only one way to find out for real, so will update as it moves around.
DECK
#ShortStrangles – Caught a downgrade and sold off a little. Selling strangles at the 200 ma and above all time highs and only 39 days out. I’d go synthetic at 75. These are also well before next earnings…
Sold DECK APR 20 2018 75.0/105.0 Strangles @ 1.30
Morning all. #spxcampaign I closed…
Morning all. #spxcampaign I closed my not so wise Mar 16th 2810/2815 BuCS trade from Friday for 1.30. Missed the high. I reduced the overall position loss down to less than a 2X initial premium on the IC. Probably could have done a lot better. I will take a deeper look at the values and determine if it would have been better to do something else. I probably will not do any more spreads on the SPX as I will be away installing the set project and cannot manage big movements very well. Have a great day.
UPS
Closed this Fuzzy small loss. -12.25 Hedge got in way and all my rolling ended up costing too much. Lessons learned I hope.
Roll SQ / SPX Campaign / Close Early WYNN
#longcalls
Rolled $SQ Calls
$SQ BTC 3/16 48 calls up and out to 4/6 53.50 for 3.10 debit
#spxcampaign
$SPX STO 4/13 2625/2650 BUPS at 1.70 Thank you @jeffcp66
Closed Early
$WYNN BTC 3/16 170/180 BUPS at .60 STO for 4.30 No more piggy me (I hope)
XLV
closed #Fuzzy small profit Bought 2-16 3.25 closed for 33.25 profit
/ZC….Corn?
#Futures – And you guys were teasing me when I posted this! I didn’t trade it since I really was just bored…LOL
🙂 🙂 🙂
BABA
#SyntheticStock – It’s either at resistance or getting ready to break higher. Either way, my long deltas are gone and it’s been a good run. Very little weekly premium and mostly a delta gain. Only a couple contracts but still booking here and looking for a re-entry point eventually. Out of BABA, BIDU, and CTRP. China was very good to me!
Sold to Close BABA JAN 17 2020 175.0/175.0/170.0 Synthetic Stock
Bought to Close BABA MAR 16 2018 190.0 Calls
Net gain of 12.20 per contract…
KR
BTO KR Jul 20 24/24/22 1.14 #Fuzzy
Un-Hedged at this time
Upside Warning confirmed
#VIXIndicator After reviewing the data over the weekend, I’ve made an official tweak to the Indicator, which means that the downside warning would have been canceled last Wednesday, and the Upside Warning is now in effect from Friday’s close. This morning’s bullish action was the final element I needed to confirm this change.
SPX puts sold
#SPXcampaign Sold $SPX Apr 13th 2650/2625 put spreads for 1.60.
COST
Good morning. BTC April 20, 140 puts @ .10, sold @ 3.05, closing 6 weeks early.
Econ Calendar for week of 3/12/18
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated
Notable Earnings AM Mon:
VRAY
Notable Earnings PM Mon:
COUP, CVGI, KRO, NCMI, REN, SFIX, TRHC
Notable Earnings AM Tues:
ARLZ, ATRS, DKS, DSW, EPZM, GDS, GNRT, HDS
Notable Earnings PM Tues:
ATHX, AXAS, BLCM, CAL, CLNE, EVRI, HTHT, MDB, PETX, SENS, SIEN, WOW
Notable Earnings AM Wed:
ARNA, EXPR, SIG, TSG, VRA
Notable Earnings PM Wed:
COGT, CTRP, DDD, EVC, INO, KLDX, NVAX, SFS, SMTC, TLRD, WSM, YRD
Notable Earnings AM Thurs:
AGEN, BITA, BTG, DG, GCO, JILL, KPTI, SND
Notable Earnings PM Thurs:
ADBE, AMRS, AUPH, AVGO, BDSI, CARA, CBAY, FSM, INFI, JBL, KEYW, OSTK, TRQ, ULTA, VIVE, ZUMZ
Notable Earnings AM Fri:
BKE, DSKE, HIBB, TIF
Notable Earnings PM Fri:
ATEN, GERN
#pietrades, #optionladder, and #spycraft Spent…
#pietrades, #optionladder, and #spycraft
Spent last hour looking for trades this week after finishing taxes :). Not much in the way of #pietrades for the week, everything is extended and the decrease in vol sucked out some of the juicy premiums.
The best I can find is the BIB 62-63 CC depending on how aggressive you want to be. Other option is the put side but have to stay close to the money to get any good premium.
Also looking and ANDV (the old TSO) around the 100-103 level either CC or puts, your choice they are at parity.
GM assigned over the weekend, will sell 39 CC a few weeks out. Cost basis 39.3.
LNG already set up for Friday at the 55 CC.
With that in mind, may go out 26 DTE today 25 tomorrow and set up some ladders to give some more downside protection. Bunch of tickers there, AMGN, ANDV, CVX, MAR, MON, NKE, NSC, UNP, PSX, UAL, VLO, XBI. The 20 delta puts all have good premiums on these and don’t mind taking some shares if assigned.
#spycraft on hold. Looking back the last several weeks, the expected move on SPX/ES/SPY has been exceeded 3 out of the last 5 weeks both to the up and down side. That means the options are not priced correctly, we are not making enough for the risk. Once the pricing is back in line, or the vol. is higher to reflect the movement of SPY will restart. Also going forward will manage by buying in between the strikes if it looks like the short strike will be breached. See previous discussions for the specifics.
Hope everyone had a good weekend!
Will decide what to do with some of these trades at lunch time tomorrow.
Mar 11 #Fuzzy Land +…
Mar 11 #Fuzzy Land + how to make $700 the easy way
Hi Bistro Buds! Last week was a bit of a roller coaster huh? On Thur, before NFP, some technical health indicators I use looked a bit weak. So I took profits on all the index #AtomicFuzzy hedges and closed 1/2 of the core positions. Little did I know what a smart move that was. Remember the Atomics have a double size hedge, so the double hedge covered all the losses on the 1/2 core, then set up the remainder cores for the big move up on Friday. I got lucky, but I try to only get lucky once, then it goes in the tool box for future intentional moves. I realized what an important trade the Atomics are for high volatility, however because they are more expensive, the profit targets need to be tighter. The double hedge in the Atomics accommodates higher volatility, but when profits appear, they need to be taken quickly since profits will appear in declining volatility–which affects the protective legs of Fuzzies.
Friday I took off almost all of the Atomics, and replaced them with regular unhedged #Fuzzies that are free to fly in a “risk on” environment. The price of April Fuzz’s has come down by over 30%. Indexes are my focus. I also took the opp, in a still-elevated vol environment, to put on some of my favorite 20DTE 25/23 delta SPX bitties.
We received our very first 1-Standard Deviation up move on Friday since the big down moves aged off. I think everything is looking rosy. I’ll be watching carefully for follow through early this week on market activity. The closed Fuzzies for the quarter has a 5-figure 35 handle now.
Oh I almost forgot….”How to Make $700 Easy”…. On Monday after hours when the market tanked on the Cohn announcement, I bought TEN TEENSY shares of AMZN. I thought it was ridiculous….how could 10 tiny shares help me in any way? Well…you know the answer to that now. This is going in the toolkit.
Good trading this week for everyone!
Sue 🙂
Evening all. I’m finally getting…
Evening all. I’m finally getting to post after a crazy day. Contractors came in and demo’d the bath down to the studs with much violence and noise. I was out during the afternoon so missed an alert on my Mar 16th class credit spread.
#spxcampaign
BTO April 20th 2800/2810 for 4.05 with SPX @ 2759.39
Rolled my Short Mar 16th 2800 Call up to Mar 16th 2815 to form a BuCS with the long 2810 late in the afternoon with SPX @ 2777.80. This was an adjustment I made for the class trade. May not have been the best idea.
BTC the SPX Mar 16th 2365/2325 BuPS @ 0.10. Took this off incase the market reverses next week.
BTC SPXL Mar 16th 45 Put @ .60 off a GTC order. Originally opened at 1.25 on the 7th.
I have had a GTC order on my Mar 23rd 2870/2890 BeCS @ .10 that never got filled. It is back up to 1.10. Go figure.
Expired ERX Mar 09th 27.5 Thanks @hcgdavis
Hope everyone has or had a great weekend.
Options Expiration for 3/9
Only 2 today, with no assignments:
$DUST Mar 9 35 calls
$UVXY Mar 9 26 calls
Have a great contango-filled weekend:
Expiration / SPX Campaign / Closed Early / Short Puts
#optionsexpiration
$SPX 2600/2625 BUPS
$SPX 2650/2675 BUPS
$COST 3/9 180/197.50 Earnings Strangle Thank you @jeffcp66
#spxcampaign
$SPX STO 3/12 2735/2760 for 3.40 Thank you @jeffcp66
Closed “Early” and as it turns out Too Early (GTC order – I was irresponsibly away from computer.)
$SPX BTC 3/9 2775/2800 BUPS at 23.50. STO for 17.00
Closed Early I am finding closing before expiration saves a lot of perspiration
$SPX BTC 3/16 2475/2500 BUPS at .10 STO at 1.40 91% profit Thank you @jeffcp66
$AMZN BTC 3/16 1420/1440 BUPS at .10 STO at 2.85
$WYNN STC 3/16 165 Calls at 21.76 BTO at 9.80 Still have a few left.
#shortputs
$EXAS STO 3/16 51.50 puts at .75
Have a nice weekend everyone. Thank you for all your inspiration and guidance.
Calling an audible
#VIXIndicator. Based on this week’s action I’m going to cancel the Downside Warning. I believe we may also have entered an Upside Warning and I started trading it that way today. This is only a small tweak in the VIX Indicator, since this particular circumstance has only happened once before this week.
