Convexx did you recently entered a VXX position? I swear I saw one yesterday but could had been my imagination, probably going senile.
thoughts on vix trading above 20. This is the first time since feb of this year. Hope you guys are getting paid.
Interesting, I would have guessed you would be all over it, maybe that's why I imagined it. Easy money when you see a short in this environment.
I had an ok day. I was out all day with kid's doc visits, but got a vanilla position in at the close. 1900/1940/1960 call asym. I don't have the debit handy and it's not for the journal. I bought some calendars as well at the 1915 strike looking for an inversion and some stickiness to mitigate any drop in vola if we rally back to 1925-30. Anxiously awaiting the payoff at NINE VIX. I hear there is a vol-fund in Lantana FL that blew-up before that nine-figure could be realized. What's next? Honduras? I had a small long at 1917 basis cash, but had to peel it off prematurely. Missed the run to 1930. We hit the zip-lines in Tahoe City and I was surprised to see us close on the low at 1906. I don't have much in the asym and I don't feel we'll crash or see 1950 anytime soon. Targeting a touch of 1889 and 1924 for the week. A number's game. You throw out a 50-lot and see how they close it. Add if you're right. Sit on 50 if you're wrong and hedge deep ITM.
That Oct 9 reversal pissed off a lot of dip buyers. And today, that 22 print on the VIX reversed twice. I think the market will continue to dump some more. VIX 30 anyone?
I'll trade some var next week. I take off for the kids' October break (last week). I am modeling somthing in VXX and UVXY as I type this.
Heh. Best post. Actually, seems he's been right to some extent, but trade management failed. No bragging rights there, but you got it. Trade management is huge. Probably going long myself. Early in the week. Short term trade. I'd say 1920 is a reasonable target, but I may settle for less. The old up, then down. Will post in journal if I feel gutsy.