For those affect by #SVXY# last year, I was contacted by an attorney in NYC who is filing a class action suit. If interested, here’s his contact info:
For those who got assigned SVXY at adjusted cost below $50, have you considered a trade like this?
-Sell the stock at market price
-Sell leap puts Jan 2020 at your adjusted cost strike, for example 50Put for $36.50
-Use the proceeds to buy 5 Jan 2020 leap calls at 15 for $6.00ea=$30
The rest of cash will go back into your account.
Since we already lost the money, selling this put would not create more loss.
If I understand this correctly, the B/E would occur when SVXY reaches about $26 at expiration or less if before expiration.
Main risk is that SVXY does not reach $26 by Jan 2020
Would something like this work?
SVXY has wiped out my trading account. I will be getting a margin call which I can’t cover. What happens now? (All the rest of my money is tied up in IRA or 401k.)
Thanks for any advice.
WOW svxy is down 75 point – I did not see this coming. With the boat weight so short volatility is there any expectation of a bounce tomorrow? I have 100, 90, 70, 60 put sitting out there. ouch. Thanks Laura
Is today with vix at 12.93 and rising a good day to sell puts in this product?
#SVXY #ShortPuts #ShortCalls – Margin issues are still pressuring me.
Bought to close 2 SVXY Jan 19 2018 130.0 Calls @ 38.80 – Originally sold at 7.90
Bought to close 2 SVXY Jan 19 2018 135.0 Calls @ 35.70 – Originally sold at 7.10
Bought to close 6 SVXY Sep 15 2017 165.0 Calls @ 13.40 – Originally sold at 13.43 (breakeven)
Bought to close 22 SVXY Jun 16 2017 55.0 Puts @ 0.11 – Originally sold at 3.55
A net overall loss but not as bad as yesterday.
If the stock keeps hanging around 150 I’ll be forced out of more positions in the next day or two.
#SVXY #ShortPuts #ShortCalls – Margin issues raising their ugly head again.
Bought to close 2 SVXY Jan 19 2018 125 Calls @ 41.90 – Originally sold at 9.00
Bought to close 10 SVXY Jan 18 2019 20.0 Puts @ 0.36 – Originally sold at 2.00
A net overall loss.
If the stock stays at 150 I’ll be forced out of more positions in the next day or two.
$SPX 2225/2250 BUPS 100% profit
$SPX 2260/2285 BUPS 100% profit
$SPX 2445/2420 BECS 100% profit
$SPX 2375/2350 BECS 174% loss
$SPX STO 4/28 2175/2275 BUPS @ 3.80 Thank you @fibwizard
$SPX STO 5/5 2225/2250 BUPS @ 3.00 Thank you @jeffcp66
$SPX STO 4/28 2230/2255 BUPS @ 1.30 Thank you @jeffcp66
#SVXY STO 1/19/2018 75 put @6.03 Thank you @jsd501
$AMZN STO 865/875 BUPS @ 2.90
$SPX BTC 4/3 2290.2315 BUPS @ .10 STO 3/22 for 3.05
$BABA STC 5/19 105 call 8% profit
Thanks to everyone. Keep our chins up and our brains working.
Have a great weekend