Down almost 5% on the Dow now. So we broke that long record that they been talking about. And this is a good thing it finally happed right. Soon normalcy comes back? After the parobolic month of a life time just got beat up?
My guess is some time Monday we get a volume crush if not some time next week. Seems to be cooling off now. Hope it continues. It’s been 14 days since we hit new lows. It’s going to break that streak soon.
I say safer cause it’s money I am willing to lose. Never intended to profit. Like my safety net. It’s still cost significantly less than the short. But now it’s more profit letting it go on a spike I did not expect.
I did the short the box thing. But with call spreads. Then bought Calls to hedge but with lower price. Been letting the long calls go 1 by 1 every little bit it goes up. First time doing it and I like it. It’s probably safer to do it this way.
I’ve been covering my shorts in relative short periods (hard for me to hold a long term core), I consider the LOB strategy very similar, except it takes more MR, and you still need to time it at perfection, or you will see the profits diluting on one side or the other.
For me, just the fact that I need to think when to add or reduce my long is a…[Read more]
I would agree with your comments Guillermo. We have a different operation as I manage a portfolio, demanding of me profits and to the extent I can actively manage strategies I’m obligated. But for individuals I certainly wouldn’t recommend the LOB, very difficult and needs precision timing.
I hope they are right and we get a spike. I still have some sold put spreads on vix. Seems like an easy trade so far. Held on to it for a week and there still no loss. Just flat. If one were to sell Uvxy puts though the losses would mount up.
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