OPENING: VXX JAN 19TH 32/35 LONG PUT VERTICAL
... for a 2.23 debit.
Max Profit: $77/contract
Max Loss: $223/contract
Bread Even: 32.77
Notes: My set ups in UVXY in the January monthly were getting a bit crowded around the strikes I would use here, so putting a small position on in VXX instead with 45 days until expiration.
Max Profit: $77/contract
Max Loss: $223/contract
Bread Even: 32.77
Notes: My set ups in UVXY in the January monthly were getting a bit crowded around the strikes I would use here, so putting a small position on in VXX instead with 45 days until expiration.
Comment:
Have my strikes reversed on the chart -- it should be long the 35, short the 32 (senior moment).
Trade closed manually:
When you're .04 short of 50% max in a mere 8 days, I say take the money and run -- covering here for a 2.58 credit, $35 profit per contract (45.5% max).