Do you know that APRU has already developed a cannabis chew. if you have been paying any attention to the markets you know that weed stocks are FLYING! with shares so cheap there is limited downside and limitless upside.
China announced new military drills in the East China Sea, adding to exercises under way in other areas that may further disrupt domestic air travel and add to tensions with neighbors over territorial disputes in the region. I hope Malaysian Airline stays away from China Sea or its Deja Vu all over again. VXX hits $33 tomorrow and set sights for $40 by end of week.
Nothing much for the past two weeks.
Small # of SVXY ATM calls sold expired today. The same with FAS OTM calls sold.
All UNG shorts closed. It was large gain but less than what I thought, still a bit better than USO last time.
Entered into DGAZ/BOIL pair trading to benefit from decay but BOIL short was called, right after I covered BOIL it started to sink. So, now left with DGAZ short. Things don't work out the way I planned. A couple of days later, still thinking about what to do. I hate symbols without any shares to short.
CAT earning was good, SLB/UAL/DPZ so so, FB/DECK got hit but luckly less shares here.
A couple of more earnings to go through.
Amazing moves: Z, BIDU, UA
I follow SPY and didn't even know market made new high. I remembered SPY well over 199 but I realized it was before SPY ex-dividend.
VXX is showing some strength while market is climbing. So, a little bit of hope for dip but then FOMC meeting is scheduled next week, and jobs data later. Market just can't dip anymore.
Account not bad but not too good either considering events coming up.
Could APRU take off? This low priced cannabis stock is just starting to get on the map and early birds could really make a killing.
Thanks bustin for all the information,
Looks like I have to talk to account manager in my broker and consider switching if it doesn't work out...
MINIMUM margin requirements are mandated by FINRA; brokerage houses may implement stricter requirements.
Google: "finra margin rules"; read FINRA pdf among other hits
"bustin, what broker are you using? and does your broker still use 2/3 of market value for UVXY maintenance requirement?
I wasn't mistaken before when I said my broker uses 100% of market value for UVXY maintenance requirement while UVXY is 2x. My broker TD put 30K maintenance requirement for 30K market value of UVXY. "
I use Fidelity. I just rechecked my margin requirement on UVXY; it is 60%
My margin requirement on TVIX is 100%. I recall last year that when it dropped below 3, the margin requirement was 100% or $2.50/share, whichever was higher!
From Fido FAQ:
Maintenance requirements are calculated using rules-based requirements in which the RBR add-ons are added to the base requirements. A majority of securities have base requirements of:
30% (long side)
35% (short side)
There may be instances where securities have higher base requirements. Some examples are distressed sectors, distressed issuers, and levered ETFs.
bustin, what broker are you using? and does your broker still use 2/3 of market value for UVXY maintenance requirement?
I wasn't mistaken before when I said my broker uses 100% of market value for UVXY maintenance requirement while UVXY is 2x. My broker TD put 30K maintenance requirement for 30K market value of UVXY.
Yes, it did, just one more lucky day like today will take my account back to all time high, but doesn't look like I will get another one soon. Each and every dip was bought so aggressively and any negative news ignored for past several months. I simply cannot comprehend this market and participants. I was very lucky with SNDK earning and closed them all. Several more earnings to go through for large short positions.
I closed last remaining July UNG puts long yesterday after the report, with only dying July/Aug calls sold left in my account now.
22K shares short and 200 deep ITM puts long closed between 22.8 - 22.5, and 200 July puts long closed at 21.90. I was dreaming of UNG $20 or $18 when I bought July puts several months ago but I couldn't wait one or two more weeks even in this cool summer weather after I waited for more than 5 months.
It was a tough ride but I was lucky and it saved my account. If my fund was not tied to UNG short, I would have shorted market more and had greater pain. I also feel that I'm getting older faster with all the stresses from trading.
I was VXX neutral and I started shorting VXX again on 10% spike, just started with LEAP calls and Aug-end ATM calls sale. I know it's too early, especially based on VIX level. But, I am carrying too much market short and I have to sell every spike if it ever comes, and VXX spike is so scarce these days.
I'm looking at CORN long these days, but I'm not much familiar with CORN, so just looking for now. Good Luck Trading.
Hope today brought you some relief despite the VXX rise. After a tumultuous ride, I ended up closing my UNG position two weeks early. Still positive but left most of it on the table. Not sure it was worth the extra gray hairs!
VIX up 38% at the moment but VXX only up 9.6%. Gotta love it.
More seriously, I suspect that when the difference between the two is that great that the expectation of Mr. Market is that the current news will only have a brief effect.
Sentiment: Strong Sell