NaughtyPines
Long

SHORT VOLATILITY RELOAD: SVXY DEC 16TH 62/65 SHORT PUT VERTICAL

AMEX:SVXY   PROSHARES SHORT VIX SHORT-TERM FUTURES ETF
Using the Bollinger bands as a guide, I'm looking to reload a short volatility play should I be able to get a fill for the right price ... .

Here, I'm looking for the basic 1/3rd the width of the spread for a fill price (i.e., 1/3rd of 3 = 1 or $100). I'm setting it up as a GTC order that will expire some time next week. I'll then have another look at the Bollinger Bands , see if they've changed and tweak my spread accordingly.

If it gets filled at some point, I'll look to manage it at 50% max profit or $50/contract. As always, these short volatility plays are a "money, take, run" proposition.
Comment: Alternative: Buy XIV at similar BB level. I would note that XIV is not optionable, but one advantage of just buying the stock is that you don't have to deal with "the volatility of volatility."
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