VIXY Bearish inclined Naked Calls 16 Sep Expiry

Ronin_trader Updated   
BATS:VIXY   ProShares Trust VIX Short-Term Futures ETF
Whats The Plan/Trade/Thought
  • This position is a hedge as it is Market wide bullish inclined
  • However I gave it a good 39.7% distance from the strike to account for market volatility that I expect to happen especially with the Sep rate hikes

    Risk Mitigation
  • The 39.7% distance from strike should cushion market volatility but also there are 2 near S&R lines at 14.28 and 15.31

    Imagine Yourself Taking The Other Side
  • The position feels like it is somewhat feeding into the bullish momentum we have been seeing in the past 2-3 weeks. But I do expect this to change

    Look For New Information
  • Now that earns session is close to over, I am expecting the next few week to be somewhat mellow. At least until we hit the first weeks of Sep where traders start anticipating the rate hikes

    How Do I Feel Now
  • I think this trade is cushioned enough with a good price balance

    Trade Specs
  • Sold 240 Calls @ 0.22
  • Strike 19
  • 39.7% to Strike
  • BP Used: 60,480
  • Max Gain: 5198
Trade closed: target reached:

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