#VXXgame I had sold $UVXY 50/60 Dec 21st call spreads(for 4.35 and 7.00) in belief volatility would be calmed going into Xmas. Wrong.
On one account, I was assigned short stock at 50.00. I sold the long 60 calls for 12.60 today, and covered stock f0r 71.10, meaning out of the spread for 8.50.
On the other accounts trying to close one of the spreads for 9.30 but not getting filled. I’ll see if assigned tonight and deal with closing on the swings tomorrow.
#VXXGame We just exceeded the 10/29 high of this correction on $UVXY.
The $VIX is still 3 points below its correction high set on 10/11.
We are setting up today to hit our 7th downside warning in this correction.
#VXXGame Sold $UVXY Dec 21st 50/60 call spreads for 7.00. Adding to my position I started for 4.35. This is entirely ITM, but I feel volatility will be quieting into Christmas, and a drift back below 50 in reasonable to believe in 2 weeks. Even without a true Santa Claus rally this can happen. Looking at the VIX and UVXY today, they’ve been drifting lower this afternoon, even as SPX continued lower. If I am wrong, it’s manageable as a spread.
#VXXGame Sold to Open $UVXY Dec 21st 50/60 call spreads for 4.35. Max risk 5.65, but also can manage to roll if we stay above this level for 2 more weeks.
Also, Sold UVXY Jan 2020 135 call for 9.50.
Closed my other $UVXY March 112 call for 3.25. Sold for 7.00.
Closed UVXY Jan 18th 95 call for 1.87. Sold for 6.90.
Bought (2) Dec 7th 100 calls for .18. Released 4.5K in buying power.
#VXXGame – My current view on the market into year-end: one more shove lower, hopefully with a panic dive toward 2500. Then, higher into year end and January.
I making a couple of $UVXY moves to free up some buying power so I can sell higher-premium calls on that dive.
Bought to Open UVXY Dec 21st 140 calls for .12. I have more long calls than short ones… they are all far OTM but will help manage the chaos should UVXY decide to shoot up to 100 on the panic.
Bought to Close UVXY Jan 18th 112 call for 1.30. Sold for 5.25.
Bought to Close UVXY March 15th 112 call for 3.70. Sold for 7.00, avg price.
#VXXgame BTC $VXX Dec 21st 50 call for .77. Sold for 3.50 on July 11th.