I was naked shorting calls, but still sitting on 30 grand of profit this year. Yea I lost 10 grand of profit this week, but once VXX drops down to 18 or 19 in the next 2-3 weeks, I'll have an additional 20-30K of profit, or 50-60k of total profit for the year... If you're naked shorting and can't withstand a 20% move, then you don't know what you're doing or how to manage risk... Simple as that...
by the way i recommend looking for Mr. Tinger's old messages, he was bragging about 200K profit, then 100K, etc all the way up in 2011, until he was forced to liquidate with negative equity in his brokerage account.
And if VXX goes to 25 I assume you are wiped out. I do agree it will probably go lower. I think it's too convenient to measure only back to the beginning of this year, are you now net positive counting the losses from before or no?
Very good my man! I got stopped out for 2.5% loss and am done for the week. Had a decent profit but should have been more, should not have gone long on a Friday, should have expected the boys to pain the tape for the masses to feel good this weekend.