You remind me of the Department of Justice taking emails out of context! ;) I took this loss at $24 and began buying it back daily below $23. Then I mounted a position that I have been trading around holding (a losing) core around $23.40 or something like that. I do not have the exact numbers but I lost around $55k on the bet initially, made $15 of it back and am now losing about $15. Still in a net loss.
I have literally thrown $20 Mil at this product and traded successfully 7 out of 9 days!! It still is in a loss position.
Let me be an example to those of you who think you can pull a profit on this. No way unless you are 100% completely lucky!
I am coming to join you soon. Barclays I am going to wrap up another VXX gift for you. I even have my borrowing rate down to .9% this time when I begin! ;)
You might be new to the board. I am a short VXX for life kind of guy. I made over 100% on that trade last year. I own a measily 5% of my portfolio right now anticipating a stronger US Dollar for a few weeks which I thought might translate into VXX. Hehehe of course it is funny. I have lost about 25k so far. .47% of my account. That is the funny part.
I can not wait to post my old posts about welcoming new longs to VXX and thanking them for the donation. ;) I am still betting on some crazy stuff that no one knows yet. Who knows, we will see.
No koodos to me for making 500k in 2 days? ;) Sheesh I can't get no love around here with Jen. enjoy your $50 trade. However my profits are not realized yet so maybe Apple will go to $1000 and RIM will go to $0?