Dislikedthat Goddamn Tom Preston and his once a month SPY short put ... . Ridiculous how that's working out for him ... .Ignored
I am making money if the ^VIX is running up, but I need it to run up hard here for the next couple days. I need to see blood in the indices. I have a wide variety of VXX spreads (UVXY spreads were set up earlier and there are still a few.) I am trying to close VXX put spreads now - some are going off around 3 bag - these are things like: Jun 24/Jul 15 $17, $18, and $22 put calendars. I need to close these out, as the short legs are itm. Luckily, they can come off now in some profit, maybe really nice profit if VXX would run up another few buck to close the week.
Funny thing is, I put these on anticipating they would work as trades to catch the ^Vix reversion. I thought they would be on mid-strikes otm and the front week would expire worthless, allowing me to let the further long legs run alone after that. So, ....no complaints, I knew they could work as an outright trade. Just need the market to sell off starting about right......now.
"If The Fool persists in his Folly he will become wise." - William Blake