I get it, TA on a derivative of a derivative isn't technically sound, but providing perspective based on the MASSIVE sell into these lows. Open gaps above and none below.
Surprising to see this type of complacency at major resistance and so much global risk. Wreaks of manipulation. Friday, we saw VIX May $25C's being bought and a 5K block of UVXY Apr 22 $24C's. Could be a cheap hedge on larger position, but I like the R/R here.
Also VIX OPEX on Wednesday w/ max pain at $19. Friday's OI still needs to settle, but Put premium at $57M and Call premium at $60M. VIX closing with a $13 handle sure makes it interesting. If they keep vola low into Tues , I will load the boat on $UVXY calls.
Friday, I went long $UVXY Apr 29 $23C's @.66