ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[DTGoody]

Looks like we were both correct about this market correction. When I bought those 25 calls in early July I knew that the market was going to have a some sort of correction before the end of the summer. I paid $6 for these 10 Contracts of $25 with September 20th expiration. My cost was a little over 6 grand. I watched these go all the way down to like $3.5 in a couple of weeks after I purchased them. I couldn't take it anymore as soon as we got a little up tic I sold them at 4.55 thinking I did really well as I watched these fall back down again in price.

We are now having that market correction and it came so quickly. I just wish I would have went with my gut and let these ride a little longer. I honestly would have been very happy to be selling these at $15 plus tomorrow. I will most likely just stay on the sidelines of anything while we wait for our other stock to come together. The premiums are so high on this now both in puts and calls. This is going nuts as I see it's at $42 now! Holy Chit!