Thanks buddy. That sounds like a nightmare. My account is fully taxable. How are you playing with options- just buying deep deep in the money calls? I hate the bid/ask spread on them. I think SVXY will be around 295 12 months from now so I guess it's worth the tax hassle.
Stop issuing shares for supposedly 1X earnings, start buying back shares, and pay CASH dividends. What are you trying to hide?
This is what led people into CILE, NIVS, CHGS, CHME, LPH, etc. Seems great, let's get involved in China right? Only problem is these businesses are frauds.
Very spooky- we have spot way above the front month futures. I mean way above, very odd. Jobs report Friday could be interesting, then Fed meeting in a couple weeks. Most likely VXX will be between 43 and 49 at December expiration, If I had to guess, 44.21.
this day literally could not have gone better. Made enough for a nice new car.
Thanks Ralph, makes sense. FYI I bought some at 121 today- outright buy, not a huge one, dipping the toe in. I've been more about shorting VXX and UVXY, so I am not familiar with the tax consequences of SVXY. I remember someone saying it complicates taxes big time- any insight on this? I thought it was a simple pass through situation where you got a separate statement sent to your address of record at the brokerage. I guess it would be a problem if you traded in and out pretty often.
I wasn't buying at 90 cents which was dumb. Seems stupid to buy at 1.09? Maybe, but I prefer to buy sometimes after a big risk is removed. I miss some of the early profits but the chance of disaster is also lower. I was not sure the bond would work out. Now with DXM I am 100% confident in their eventual bankruptcy but given all the shares I shorted at 8 it was hard to pass up a 30% gain.
Looks like 7 in a row now! If this had existed in 2008 meltdown it might have been up 100 days in a row. These days 7 in a row is impressive though, I agree. What a streak!
Let's do it to it.
I don't think this will be around a lot longer. Once (if) we get a decent correction and people see this POS doesn't do well in any sort of market environment the final wave of redemptions will wipe it out.
Capital gains distribution announcement should be very soon now.