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  • #13,741
  • Jun 27, 2016 11:14am Jun 27, 2016 11:14am
Quoting The Fool
it's a fucking joke.
/ES down 2% ^VIX down 7+% HAHAHAHAHAHAHAHAHAH!!!!!
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,742
  • Jun 27, 2016 11:36am Jun 27, 2016 11:36am
Quoting The Fool
{quote}/ES down 2% ^VIX down 7+% HAHAHAHAHAHAHAHAHAH!!!!!
The other reason is possibly a lot of people bought options on Friday to protect from a massive drop similar to Aug 24. When that didn't happen they sold them off lowering the VIXAlso it is good to compare current VIX and % SPX chsnge with the VIX in Jan/Feb and to me it appears VIX was higher than expected given the market drop. If the market drops again tomorrow expect Vix to rise. If market goes up or does nothing Vix will likely dropRemember VIX only rises if people start paying more for SPX options. They do not need to move in direct correlation.
  • #13,743
  • Jun 27, 2016 11:44am Jun 27, 2016 11:44am
Quoting Sherpa
The other reason.
or the CBOE could be run by a bunch of crooks.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,744
  • Jun 27, 2016 11:54am Jun 27, 2016 11:54am
Quoting The Fool
{quote}or the CBOE could be run by a bunch of crooks.
Yes. The big moves in option prices are controlled by some very big players. Remember the option market is worth trillions. They have manipulated vix at expiration in the past
  • #13,745
  • Jun 27, 2016 1:46pm Jun 27, 2016 1:46pm
just like Friday, the crooks hold it down and then let their crook friends bid it in AH. Scam doGdamn....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,746
  • Jun 27, 2016 3:02pm Jun 27, 2016 3:02pm
Quoting The Fool
just like Friday, the crooks hold it down and then let their crook friends bid it in AH. Scam doGdamn....
Yup. Not the 1st time this is happened. Very discouraging.
  • #13,747
  • Jun 27, 2016 3:38pm Jun 27, 2016 3:38pm
Quoting StrayDog
{quote} That is the reason why I do /ES futures options. Good liquidity, tight(er) bid/ask spreads, round the clock working hours... Off course, SPY and other index ETFs options are champs for tight bid/ask spreads, but ... you explained that above, as I did that also a long time ago. For other index futures, /NQ is also doable, and others has really shitty options.
I've always wondered how the fills were on the /ES futures options ... . I've heard varying stories, although I imagine "quality" varies based on when you're trying to get a fill (NY vs. non-NY) ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #13,748
  • Jun 27, 2016 3:41pm Jun 27, 2016 3:41pm
Quoting The Fool
{quote}omg what does the spoos have to do to move /VX? down 25+ and /VX has basically flat-lined since the LO? What a farce....
Probably the same dicky crap that happened in late August 2015 ... . Fucking pit traders manually calculating options pricing (?!) and similar ridiculous shit. What the hell is that in this day and age ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #13,749
  • Jun 27, 2016 3:44pm Jun 27, 2016 3:44pm
Rolled down my SPX July 22nd IC call side from 2140/2130 to 2110/2120 on this weakness for an $80/contract credit. Put on the original IC for $280, so with this roll my scratch is now at $360. Still shooting for 50% max of the original setup (or about $140/contract), so I'll go for pulling off the entire setup for a $220/contract debit ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #13,750
  • Jun 27, 2016 3:46pm Jun 27, 2016 3:46pm
Sold RUX July 29th 1000/1010/1160/1170 iron condor for a $325/contract credit ... . I'll pull it off at 50% max ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #13,751
  • Jun 27, 2016 3:55pm Jun 27, 2016 3:55pm
I said the ^VIX is a Fart.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,752
  • Jun 27, 2016 3:58pm Jun 27, 2016 3:58pm
Quoting The Fool
I said the ^VIX is a Fart.
Something smells here.
  • #13,753
  • Jun 27, 2016 4:11pm Jun 27, 2016 4:11pm
Quoting peterdrill
Something smells here.
Those fuggin leveraged long ^VIX ETN's are the worst, like printing money - issue notes, watch them go to zero, let them spike a few times a year to keep the suckers coming in, issue new notes, watch them go to zero again, ad infinitum, laffing alla way to the offshore accounts....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,754
  • Jun 27, 2016 4:15pm Jun 27, 2016 4:15pm
Quoting The Fool
{quote}Those fuggin leveraged long ^VIX ETN's are the worst, like printing money - issue notes, watch them go to zero, let them spike a few times a year to keep the suckers coming in, issue new notes, watch them go to zero again, ad infinitum, laffing alla way to the offshore accounts....
Exactly. Even worse when they allow people to load up after hours only to bring the stock down the next trading day. I'm not saying it's going to happen but.............What a joke; on me.
  • #13,755
  • Jun 27, 2016 4:17pm Jun 27, 2016 4:17pm
Quoting The Fool
{quote}Those fuggin leveraged long ^VIX ETN's are the worst, like printing money - issue notes, watch them go to zero, let them spike a few times a year to keep the suckers coming in, issue new notes, watch them go to zero again, ad infinitum, laffing alla way to the offshore accounts....
Got tired of spanking my VXX poor man's covered calls ... . Exited the lot today for basically scratch while I could (double middle fingers up at VXX); I may wrong, but we could see dip buyers wading in in earnest shortly; the last several hourly candles look rangebound/consolidative ... . As usual, who the f knows ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #13,756
  • Jun 27, 2016 4:28pm Jun 27, 2016 4:28pm
I can't complain too loud, I sold out of a pile of Jul 01 $17 VXX calls today for $1.50, about a 10-bagger off the original spread.....but my aspirations were much higher, and that was early - after that I watched remaining VXX and UVXY positions bleed all ovah my accounts
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,757
  • Jun 27, 2016 4:51pm Jun 27, 2016 4:51pm
UVXY NAV now $17.22. Up from $15.86. No comment just facts.
  • #13,758
  • Jun 27, 2016 8:30pm Jun 27, 2016 8:30pm
Quoting Sherpa
If the market drops again tomorrow expect Vix to rise. If market goes up or does nothing Vix will likely dropRemember VIX only rises if people start paying more for SPX options. They do not need to move in direct correlation.
...WHAT, so SPX options were not more expensive today, with /ES down >2%, or it just did not matter because the massive load of /VX options bought last week were still selling off today? Or, in other words, the ^VIX is a Fart? And now the inevitable BTFD?
Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,759
  • Jun 27, 2016 9:42pm Jun 27, 2016 9:42pm
if we are gonna bounce, TLT has a gap to fill - the short time put calendar shown is prolly a 3-bag affair, at best.......short TLT is short vol, so I apply a -3% iv scalar
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2016-06-27_2140tlt2.png Size: 75 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13,760
  • Jun 27, 2016 9:45pm Jun 27, 2016 9:45pm
Quoting The Fool
if we are gonna bounce, TLT has a gap to fill - the short time put calendar shown is prolly a 3-bag affair, at best.......short TLT is short vol, so I apply a -3% iv scalar {image} {image}
I was contemplating shorting TLT and as of now, maybe a wise ass move
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