I just saw the notice that UVXY will be reverse split 10:1. I sold my position out. After the reverse split the non-standard options have a spread that as the old sying goes - you could drive a truck through.
I will use /ES to fade the markets.
After the split I will revist UVXY.
jacobit
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@Spotshooter1983, I could see how the order book would be blank after the split.
The weekly MVWAP chart suggests a $44 UVXY. Funny how the sigmas are linearly controlled. I would expect, after the split, some fade down, and then a massive push. There's a reason for the split before all hell breaks loose. It happened last time with TVIX and post-split it ran like hell after what, a few weeks? Same thing will happen here imo.
I bought the June 4.50/7 call vertical.
Trailing stops of course.
My initial position stop is a 50% loss.
We can always hope for "the big one."
Got to have a position to harvest a gain.
Time to trade /MES...
Just show me a direction - I can figure out how to game it.
If this is real there is time to get in with the additional tranches.
Is it real?
no one really knows.
nice chart
all the best