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

[luisWinthorpIII]

Contago is starting to decrease

We are going to enter backwardation.

Saw this article-

https://www.bloomberg.com/news/articles/2021-04-08/giant-vix-options-trades-bet-that-stock-market-calm-won-t-last

we aren’t the only ones eyeing these cheap hedges. Remember folks, out of the blue this thing could spike over 100%. I’m not sure if the 10.30s is where I want to be - I think I’m 30 days too soon on this but right now I’m looking for a short term gain to buy more under $10. I haven’t even gone big yet but I’m targeting a week or 2 then calling my entry and holding. There is a good chance we’ll be able to grab some of this in the 9s but also a good chance now is the time. Not likely to hit 8s before this overbloated pig of a market gets carved into a honey ham but markets can remain irrational for a long time as you know.

Fundamentals have clearly left the building and that means VIX fundamentals have also been skewed from the norm as well.

Good luck to all trading this!