OPENING: VXX SEPT 20TH 20/23 LONG CALL VERTICAL
... for a 1.35/contract debit.
Metrics:
Max Profit: $165/contract
Max Loss: $135/contract
Break Even: 21.35
Delta/Theta: 21.16/.55
Notes: I don't take long vol product positions very often, particularly those subject to contango erosion and/or beta slippage, but with the market at ATH's and the VIX at lows, taking a small shot here with better than risk one to make one metrics ... . It'll be a money, take, run at 25% max or greater.
Metrics:
Max Profit: $165/contract
Max Loss: $135/contract
Break Even: 21.35
Delta/Theta: 21.16/.55
Notes: I don't take long vol product positions very often, particularly those subject to contango erosion and/or beta slippage, but with the market at ATH's and the VIX at lows, taking a small shot here with better than risk one to make one metrics ... . It'll be a money, take, run at 25% max or greater.
Trade active:
Probably pulled the trigger on this a little earlier than I should've. Rolling the 23 short call down to the 22 for a .27 credit; scratch at 1.08/break even at 21.08, max profit at .92.
Trade closed manually:
Taking this off here on this pop for 1.31. 1.31- 1.08 scratch = .23/$23 winner.