OPENING: UVXY JAN 5TH 12.5/15.5 LONG PUT VERTICAL
... for a 2.25/contract debit.
Max Profit: .75 ($75)/contract
Max Loss: 2.25 (225)/contract
Break Even: 13.25
Notes: Basically a contango drift/beta slippage play, but playing the ball where it lies, rather than waiting for a pop ... . Going long put vert instead of my usual short call vert due to comparatively low VVIX.
Max Profit: .75 ($75)/contract
Max Loss: 2.25 (225)/contract
Break Even: 13.25
Notes: Basically a contango drift/beta slippage play, but playing the ball where it lies, rather than waiting for a pop ... . Going long put vert instead of my usual short call vert due to comparatively low VVIX.
Trade active:
Now that I've got some better entries with last week's pop, I will look to take this setup off at scratch, since it's the most at risk out of the spreads I have on in January.
Trade closed: target reached:
Covered this a.m. for a 2.28 credit, taking off the lowest hanging fruit, and freeing up BP. Still have 13/16, 14/17, and 15/18's on the January monthly.