OPENING: VXX OCT 20TH 52/54 SHORT CALL VERT
... for a .50 credit.
Probability of Profit: 63%
Max Profit: $50/contract
Max Loss: $150/contract
Break Even: 52.50
Notes: Setting this up at the 50 delta strike. The set up isn't that "sexy" in terms of premium collected versus max loss, but going small on this minor VIX pop. Would prefer going 50 delta short call vert in this instrument on corresponding /VX front month at 16 or greater, but ain't getting any younger ... .
Probability of Profit: 63%
Max Profit: $50/contract
Max Loss: $150/contract
Break Even: 52.50
Notes: Setting this up at the 50 delta strike. The set up isn't that "sexy" in terms of premium collected versus max loss, but going small on this minor VIX pop. Would prefer going 50 delta short call vert in this instrument on corresponding /VX front month at 16 or greater, but ain't getting any younger ... .
Trade active:
Now that I look at it, was actually filled for .52 ($52)/contract.
Trade closed: target reached:
Covering for a .25/contract debit here (slightly more than 50% max); $27 profit/contract. Will wait for another "event" to put a similar setup on ... .