ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[kid biscuit]

This happened last year, and what happened was they ran the calls down out of the money at the close while the market went up 50 points before the bell. I kept watching the after hours ticker till they came back into the money, and then even though the calls where done trading the share aftermarket was still open. So since the calls don't close out till Sat midnight I shorted 100000 shares against my 100 calls and the money was in my account on Mon. I wish I known this 10 years ago, as I bought a 100 puts that expired barely out of the money at a 30 strike price. On Sat afternoon a hurricane came through and completely destroyed the entire manufacturing facility. The stock gapped down $20. per share at $10. I thought there was nothing I could do and missed it. When in reality I believe the pre-market was already down before midnight which means the market makers at TD who work all weekend were able to take assignment of my unexercised puts with a long position and walked away with $200,000. You can't be smart enough in this business, as someone else can walk away with the untended sugar jar. I could be wrong about the timing, I would have to check the time element involved in taking a position as its been a while since all the details were transacted, but ask your broker to be sure. But all I know is...it worked.