Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
thank you for thoughts/
this is an expensive lesson for me to learn. 38k loss it stings wiped my quarterly gains right out
Ray,
I'm all ears
If I should cut my losses on march 22 position I will.
congrats on the profits. plan on selling 5 or 10 svxy covereds shortly
lol ray I couldnt pull trigger on .29s and i looked at may 75 puts again didnt pull trigger. Sometimes I have the balls to buy in the fire and sometimes I dont. I would have been disheartened if I bought 300 yesterday and vix was up again today.
I have come to realize maybe buying more shares of svxy would be easier play and just sell covereds using what you and doc have shared with us.
so in your svxy spread your buying april 63s and selling 68s?
yeah i need ~$52 to break even under my calculations
march 22 2014 $14 puts at $1.07 cost i need 51.70
edit to others these are pre adjusted uvxy puts 14x4 56 minus cost average 1.07 x4 (51.7 magic number)
Ray & doc I am debating adding puts to my position of march 22 puts. The other side of that debate is cutting them loose for 70% haircut. thoughts appreciated
yeah I notice cnn is covering this thing like the moon landing. I still fail to see real impact no matter what the outcome. Meanwhile gold shooting up past 1340 as so still think gold will save them if SHTF
im sure this will spike volatility
but why? russia nor ukraine have any bearing on US markets
i should edit my comment buying more puts and lowering my costs would help if i was able to sell on a uvxy dump before expiry.
i bought puts(betting uvxy losses ground) which means i need uvxy below $56 by march 22nd expiry. I posted my cost $1.27 so I basically need 54.7 or lower on uvxy. I could buy more here for half the price but it doesnt change much in reality. I really could use the announcement of long term debt ceiling passing the senate
im trading uvxy options pre split 14s or $56 at current levels
correct I have a bunch of naked puts(march 22) already not feeling to hot about it at the moment.
i wanted 100 more trying to get average down but liquidity on these adjusted options are frustrating to say the least.
thank you for the info its much appreciated
doc,
thanks yes I pulled april and may due to error.
what do you mean by back month?
i have large position of adjusted march 22 $14 puts at $1.27 I am thinking about buying 100 more here but not enough volume without taking out much of the ask
Doc and Ray,
vix at 13.9
uvxy is 64
front 2 month contango is 6.7%(x2= 13.4%)
exp decay ~1
so uvxcy at march expiration should be ~ $55 if things stay the same?
trying to up my game here
you bought june 60s right?
I am noticing the larger holdings of gdx (abx,gc, newmont etc)
i reserve the right to be wrong but I got 1500 shares of dust here, gold miners are still heavy in debt and I didnt see any good earnings.
doc I am trying to study here,
whats (0)*e^
in your formula?
thanks in advance
yes
considering selling march uvxy puts aswell for slight loss and rolling into june?
edit weeklies
similarly i sold dust 19 and 20 puts yesterday and today so far so good
i bought puts today lol
did you sell? congrats on right call
given the pop in vix ahead of the fed minutes it only seems natural to ad to inverse positions thanks for the math lessons, I knew I should have listened in school
i do not know what the pps should or will be but i always sell calls right before ex divi date
good luck
have you sold some oTM calls yet?
ABX missed aswell, they did save money by not exploring but without said exploring they loose revenue and revenue= valuation. I may sell some weekly puts today across the board
miners reporting AEM was first AH they lost $458 million in 4th qtr and lowered their dividend(by 30%).
ABX and GC will post tomorrow
doc I am sure you have put pen to paper on this and the effect on VIX. Good news for anyone inverse
sold 5 feb 63.5s for $1.2
wow yes that makes perfect sense. I was thinking buying back covereds on any vix spike(in the case of selling june 14) then re-selling. but your plan is so mathematically strong.
thanks ray I have them pulled up now. my shares are $59 i have sold puts last few weeks (weeklies) last week didnt hit this week i closed for pennies to assure profits i was looking at selling $60 june but will do febuary if its a better play
thank you, my weekly puts are golden, buying back for pennies to assure profit just in case. looking to sell covereds on my shares to assure profits. My uvxy (march)puts are coming back to life
Ray and doc, thank you for putting the math lesson to this, I have been in the hospital with my daughter(whos better now) and then my dad. I am seeing the frustration in the adjusted options for pro shares. 2 days I called to etrade and tried to get more puts on my position in the .5s to .7s but was unable to get. I was on phone and looked like I would be able to get 100 up to .8(market order) on wed but ask jumped up to 1.13 and derivatives team member apologized for taking too long on order. yesterday called in again and put limit at .7 bid was .81 got 0 but no sour grapes just a lesson. Should be a bit more predictable if my puts become ITM. thank you both again for your help I ought to be able to monitor my positions in the coming weeks.
I am in same boat but march uvxy puts. I am considering rolling into june or buying more. I am still studying doc and rays math lessons. I wish I paid attention better in school ha
I think you made a good buy. This is also the first time I have been inverse volatility when vix pops. It has caused me lots of angst.
viva la dictionary
touche
he who goes by truth is merely a contrarion vehicle
not really gloating since he has "no position" He is just genuinely elated someone may be down in their position