Long Put Diagonal futility

#VXXGame #LongPutDiagonals I’m starting to close down my ITM short puts against the Long-Put-Diagonals, without rolling them. I’ve kept up with rolling but it has become a futile exercise. I will consider new positions in either short calls or puts once we get some new volatility. But for now, I am shouldering the losses rather than building on them further.

The long term long puts are in great shape and should be ripe for closing about a year from now. That’s plenty of time to make up this month’s losses in additional short sales.

BTC $VXX Oct 20th 43 put for 8.44. Sold for 4.01 on 9/22 on a previous roll (with a 46.5 call for 1.44 that just closed for .03). That’s the basic deal; won’t be posting all trades to exit, but happy to answer any questions.

VXX adjustment

#LongPutDiagonals – Here’s the latest…adjusting the front month put sales that have (or will be) capping gains.

1. Closed one third of the position using the cash brought in from front month sales. This will open up that part of the 2019 position to continue lower towards zero.

Bought to Close VXX JAN 19 2018 38.0 Puts @ 6.68

2. Rolled the other two thirds of the put positions out and down to 2019.

Rolled VXX JAN 19 2018 38.0 Puts to VXX JAN 18 2019 28.0 Puts @ .31 credit

I made this adjustment after this conversation with TDA this morning:


10:24 fuzzball: Quick question…any idea when the VXX 2020 LEAPS will be coming out?
10:30 SeanF_TOS: Hello, at the latest I would anticipate them to be issued once the Jan 2018 options expire
10:30 SeanF_TOS: usually they expire the 2018 ones then list the next set the following monday
10:31 fuzzball: Makes sense. I noticed the AAPL 2020’s were already trading. I’m sure it varies from ticker to ticker.
10:34 SeanF_TOS: Yeah they could potentially list them earlier based on trading demand. Exactly there isn’t an exact science to it, we’re usually good at keeping up and putting them on the platform the same day they get listed, but if you ever see them on cboe’s website as available to quote and we don’t have them let us know and we’ll get them listed by the next business day.
10:35 fuzzball: Thanks!
10:35 SeanF_TOS: You’re welcome! Have a great day!


So…as soon as the 2020’s come out I’ll be rolling the puts again out and down and probably setting up another batch of synthetic short positions above them. Those (the 2020’s) will be capped to the downside again but the much larger 2019 position will be free to run all the way down.


UVXY: Closing one of my last Dec positions

Bought to close $UVXY Dec 15 91 call @ .54. Sold for 7.40 on 8/17. I was on vacation at the time and was lucky to get some #VXXGame trades on during the last relatively decent volatility spike. I’ll try to plan my vacation better next time 🙂

What’s left are Nov 60 and 70 calls, Dec 37 calls (pre-split so 148 equivalent), then starting in January nothing lower than 82 strike. Definitely need to get some volatility but I know I’m preaching to the converted.


#VXXGame – Cleaning up a few stragglers in the #IRA freeing up more margin.

Bought to Close UVXY NOV 17 2017 50.0/65.0 Bear Call Spreads @ .20 (sold for 1.17)
Bought to Close UVXY DEC 15 2017 50.0/60.0 Bear Call Spreads @ .26 (sold for 1.20)

Not much relief for the short

#OptionsExporation #VXXGame #SPXstrategy
Only expiration is a long $SPX Oct 6th 2400/2375 put spread. Bought it last week for the bargain price of .20. Other than that, closed $VXX Oct 6th 44 puts for 6.53 (avg price). These are the “covered” puts against #LongPutDiagonals. This one’s gotten rough. Will have to figure a way of #Rolling later.

Have a good weekend all! I will be on or near the beach.

VXX rolling

#VXXGame #LongPutDiagonals #Rolling #StrangleRoll
As $VXX and $UVXY continue to bleed out, I’m rolling my last ITM puts into strangles.

BTC VXX Sep 22nd 47 puts for 5.75.
Sold VXX Oct 20th 44/50 strangle for 5.86
Sold VXX Oct 20th 43/46.5 strangle for 5.45

I’ll see another next week. Managing the weeklys on this long trade has gotten messy, but it keeps me busy!

$VIX Futures – Why traders…

$VIX Futures – Why traders think selling Volatility works:
Only 6,000 September VX calls didn’t go bust.
Over 4.8 million worth ZERO.