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iPath S&P 500 VIX ST Futures ETN Message Board

  • goodoptday goodoptday Jan 3, 2014 11:40 PM Flag

    Non-VXX 1/3/14

    My positions squeezed from all directions for the past couple of weeks, ruining the year-end. Forced to close a couple of positions out of my 20+ positions.

    However, luckily still staying close to the last milestone, slightly under it though, thanks to big drop in USO this week.

    Sold OUTR ATM calls on bounce.
    Sold UAL ITM calls on pop.

    Then, took half day off from work in the afternoon, and went to Camalback to enjoy snowboarding on fresh big snow last night. It was one of the coldest days but it wasn't that cold and I had good time today teaching my wife how to snowboard. She skis well and it seems helping her learn snowboarding quick.

    Had to take break from snowboarding to roll expiring options before market close today. Wanted to realize some of USO gain this week, so closed 100 USO deep ITM puts long when USO was $33.75. I've been accumulating USO deep ITM puts during Aug/Sep last year and been rolling every week since then for about 4 month now. Rolled the rest of USO deep ITM puts to next week. USO is dropping like something's going to happen, and may drop much further, but had to take some profit just in case it shoots up like last time after hitting $33, at that time I lost chance to close them.

    Need to work on estimated income tax for Q4. Hate losing 30% of profit.. but what else can I do, better than nothing or loss. Getting busy keeping up with the project at work after 2 weeks of year-end break.

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