you could sell both sides of the $12 strike price for almost $10..but hedge the sale of the put...the call and the put see-saw back in premium. But who cares, for you have $10 in cash in your pocket
http://finance.yahoo.com/q/op?s=UVXY&m=2012-09Sep options only have $8-$10.Most important thing os to HEDGE the SALE OF THE PUT...it is a TECHNICAL ISSUE
Idiotic. What are you going to do at 22 with the market tanking? LOL. Nice trade Einstein.