iPath S&P 500 VIX Short-Term Futures ETN (VXX)

[risk on]

I'm liking that it is steady going, and not gap happy. This pop to clear calls will be short lived IMO, then it goes back to $27ish me thinks. It's the cyclical nature of pops here. That $27 mark will be one of the most important battles in VXX recent history IMO. If it holds and shows lots of vol around it, then I'm going nuts in. If it breaks down, then we may see another RS somewhere down the road. My instinct is toward the former given how historically overbought spy is.