Sold 10 VXX weekly near-the-money calls. Sold hoping for short assignment at the end of the week but it doesn't look likely for now. Should have sold lower strike calls.
Added 1K to VXX shares short.
Today VXX showed a classic example of how quickly it can fade on little market change when the fear or speculation disappears somehow. It was just lovely. I think VXX spike is not done yet for Oct, but it's OK for me even if it's done.
Closed 1/2 of GMCR shares short.
Sold NFLX near-the-money next week puts against 1/2 of NFLX shares short. Sold too early.
Sold BIDU near-the-moeny weekly puts against the remaining BIDU shares short.
I'm not sure whether I should have just closed those positions instead of selling puts against shares short. I couldn't make up my mind and it was compromise.
Account big plus. The largest daily gain ever with the help from USO and other market shorts. It's paper gain but still feels good. Need to roll options tomorrow as I'll be on the flight to Turkey whole day Friday. Market is treating me very well this week ahead of vacation with plenty of cash set aside. Even if market bounces hard, I think I can enjoy the time off unless USO goes up like crazy, but then I'm hoping VXX goes down crazy on USO up crazy (but then again, in fact, there's not much correlation between them but just hoping).
Once dust settles and after trimming more market shorts, planning on slower trading with the goal of 400 bucks per day gain with less greed.
I don't want VXX to shoot up sky high but at the same time I don't want VXX to plunge just yet. By selling near-the-money VXX calls, I am effectively shorting VXX at higher price if those calls are assigned. That's what I was hoping for. It would be best for me if VXX climbes slowly for just a couple of more points until I complete building VXX short positions.