ProShares Trust Ultra VIX Short Term Futures ETFArca
Description
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UVXY which leverages the VIX as a measure of volatility / greed/ fear has finally crossed
over the mean anchored VWAP. This is a sign of bullish momentum and perhaps a signal that
traders should hedge or consider their positions in terms of hard risk management. Those
who traded this move up today made 10% or better in the trade. Those who bought call options
expiring tomorrow made 10X and those with call options for next Friday made 5X overnight.
Tomorrow is another day. Likely the market will rise from the correction and UXVY will fade
a bit. No matter, its value for insurance and hedging is reinforced on days like the past day.
I am maintaining a full position aside the call options closed at the afternoon bell which
expire on Friday and had time decay to contend with. My first target is 7.75 then comes
8.05 and 8.45. I will take off 20% at each target and keep the others for insurance for
a true market crash or black swan event to buffer losses while stops get hit.
Comment
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Zoom into 1 minute for intraday detail
Comment
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VIXY is a related trade- with swings at pivots to capture profit ongoing
Comment
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Prior idea 2 days ago at the beginning of the long trade entries
Comment
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Sideways or a little move higher today . Dip buy at the NY lunch hour.
Trade active
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Forecasting algo predicts a fall from the resistance of the VWAP line. I will likely take profits in partials on Monday April 8th in consideration of that.