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NaughtyPines

OPENING: VXX JAN 17TH 22/23 LONG PUT VERTICAL

Short
iPath Series B S&P 500 VIX Short-Term Futures ETN (AMEX:VXX)  
NaughtyPines Updated   
AMEX:VXX   iPath Series B S&P 500 VIX Short-Term Futures ETN
Beyond Technical Analysis VXX longputvertical optionsstrategies
3
0
beyondta vxx longputvertical optionsstrategies
... for a .45 debit.

Max Profit: $55
Max Loss: $45
Break Even: 22.55
Delta/Theta: -2.81/-.11

Notes: Here, a bet that beta slippage and contango eat away at this VIX derivative over time ... .
Comment:
Sept opex check. Yowsa. They crushed the crap out of vol off those highs. 20-20 hindsight: I probably should've manned up and gone wider. Currently valued at .63, just going to leave it alone to grind into near max if that its "grand plan."
Trade closed manually:
Out for .75, .30/$30 per contract winner, 67% ROC. Back to waiting for the next pop to re-up.
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