today i lifted a jan vix mini at 16.65 and got hit on the apr/may switch at 0.74. current position: long the jan mini long the belly of the feb/mar/apr fly long the apr/may switch *edit* i'm going to just keep my pnl as % to date instead of in vol terms.. at first i thougt that would be easiest, but it isnt. i'll update pnl when these trades are done.
i closed the fly today. honestly, i dont think the execution was the greatest, but i don't see the same dynamics in my favor as i did when first entering the position. i put the fly on at -0.07 through the life of the trade it went as low as -0.25 and as high as 0.14. my target was 0.30, but i think holding the position in the current environment presents me with some unwanted risks. i closed the position at -0.01. so 6bp of pnl. edit** i promised update on journal to date pnl.. opposed to vol term pnl i'll just post % return to date.. 8.8% return to date i still have two open positions. long jan mini long apr/may switch
i'm flat. sold jan @ 18.45 (basis of 16.65) sold apr/may @ 0.60 (basis of 0.74) pnl journal to date is 9.7%
thx guys. i don't think my timing was so good- but honestly i didn't like the outright jan, nor the april may, so i really just wanted out.. i've been looking to find a good level on the jan/feb... almost got in 2 days ago around 0.90, but now its just ran away and i dont want to chase. we'll see what happens next. thx for the love *my edit was grammatical*
i sold jun/jul @ 0.86 anyone have any thoughts on that part of the curve relative to the rest? im curious how others are viewing it.
if you are "long the belly" that means you are short the fly. and you should list the months in order. F is jan J is april and M is june,
jgills- how could you sell VIX M/N at .86? it trades in nickels. the lowest tic is 5. at $50 a tic. ??
i did list them in order, but i just used month names (fma feb mar apr). if its not clear ill just type the months next time. to question #2 the spreads can move in increments of .01.