ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[eric4x]

SOLD XIV at $22 LIMIT, buy UVXY soon?*

I wasn't able to follow the market today, so I'm posting late. I just got my settlement date today from the previous trade. I was able to set the limit order early this morning, to sell all XIV for $22. This is the high end of the price range that was recommended to me, and it just barely reached. The order was filled at 2:40:19 PM.*

Of course, it might still go up in the next few days, but I need time to get my settlement date before buying UVXY.*

Everyone is expecting a big market drop soon. I assume I won't get too much objection if I start averaging down on UVXY at about $7. But I'll have to wait for the settlement date. I would like to set a buy limit for something like $6, just in case it could be filled before the settlement date. But after that date, I'll think it's appropriate to pay a higher price.*

In any case, I got out of the past few trades with a profit. At least in hindsight, it was NOT wrong to start averaging down from $7.30, when I did that two weeks ago. Lower would have been better, but it did go up quite a bit from there.*