I remember you trade VXX puts long. Would it be possible to share which month (how far out) & strike you chose to trade? Wanted to get some reference data before I start analyzing put long strategy.
Thanks in advance.
No VXX trade.
Shorted 2 sets of ATHN.
UNG down hard even with huge backwardation. What a surprise. I was worried about huge backwardation before Mar future expires. Feeling much better now. Even if Apr future goes up half-way to meet Mar future, UNG would be under $30. Will be adding to UNG short once Mar future expires.
Account a little bit plus. VXX is holding up well recently while market makes another ATH.
Thanks for great information.
My broker does not make a box position. It just takes away my VXX short shares when ITM VXX puts are assigned.
I have a job so it would be a long long time before I reach a lower tax bracket especially with trading gains. I will wait for next reverse-split and then may try keeping VXX box position for a year. At next reverse split, 15% difference between short-term and long-term gain would be $2.88 per at last year's pre-split shares and $11.52 per current shares, Not at all a small amount...
VXX still holding up well. When VXX spikes, want to buy VXX puts (instead of VXX share short) to limit loss in case of further spike but it's not cheap. Hate to go with share short but not much of other good choice.
Bought 2 sets of XOM near-the-money puts on strength from upgrade.
Sold FDX ATM calls.
Closed OUTR share short assigned from deep ITM calls sold. Not at a good price but still some profit.
Account some minus. Decision time coming up soon for VXX.
lf, decision still pendng. Will see how thingsgo this morning. Yesterday, VXX was strong, had to go to the bank, while waiting in the bank, made up my mind to close SVXY calls. But, when I came back from bank, VXX already went down so much in just an hour.
Today, I don't want to gamble holding SVXY calls sold through the FED announcement. I've been burned many times in the past. I'm not sure the FED will taper any time soon with the new chair. Hope VXX stays strong at least before the announcement today.
actjac, It's been long since we had this two or three solid down days that we are waiting for. It's just an amazing market.
Good luck trading all...
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.
No trade. Whole day trying to short UNG, but missed chances and watching it go down,
which turned out good today as it went up even higher..
What a day! Went wild with trading today.
Closed SVXY shares short.
Closed SVXY deep ITM calls sold.
Shorted 3K VXX shares.
Sold 10 VXX Mar OTM calls.
Bought 1K XIV after-hours on after-hour VXX pop as VXX was not available for short.
Sold 5 UNG early Feb weekly deep ITM calls.
Sold 10 UNG early Feb weekly ATM calls.
Sold 10 UNG Feb ITM calls.
Sold 10 UNG next week ITM calls.
Sold 10 UNG early Feb weekly deep ITM calls.
Started shorting UNG, thinking that UNG pop is short term caused by cold weather. I thought today is the top day and went in too much for the first day. But, fortunately with option premium, cost basis is not far off from closing price. 8% up in a day, didn't know NG can be this volatile. Also considered pair trade, long USO & short UNG, but decided to go with UNG short only.
Closed 10 HD Jan 2015 calls sold.
Account good plus but still far off from high. New start with VXX and UNG. Looking at max 30% up from VXX low which is $52. Will have to survive Feb for UNG..
Shorted UAL shares.
Closed GS shares short. GS earning was a beat but luckily it went down.
Account down some and then up some. Getting tired of market action.. Just wondering what the end of this bull run would look like... Paid estimated tax to IRS and state because I didn't want to pay penalty for 1st half when my gain is mostly in the 2nd half.. I guess they will waste much of it on fat pensions, entitlement programs and foreign aid...
Sold UAL Jan 2016 OTM calls.
Shorted small # of UAL shares.
Wild earnings action today, glad that I'm not part of those, NFLX, EBAY, FFIV, etc.
Account little bit minus.
If you read my postings, you would know that I never buy VXX puts. Put premium gets too expensive to buy when it's really a time to buy unless you go deep ITM but then deep ITM put defeats the purpose of buying put compared to share short.
What I noticed was that double-leveraged ETF has more than twice the margin requirement than unleveraged ETF. At least that's my observation when I traded AGQ/ZSL with my broker. Hence, not an efficient capital utilization. Yes, UVXY short will enjoy daily balancing decay but it will compound up when it spikes against short.
VXX short is already a risky business when it spikes like now and I don't find any reason to make it riskier with UVXY.
What a day with VXX. Finally, giving me some breathing room. Glad that backwardation between futures is gone (Hmm but re-appeared after-hours between front and second?).
Earnings that I was lucky to avoid short with: KORS 20+%, GMCR 40+%, ATHN 15+%.. Waiting for them to settle...
UNG's future backwardation decreasing. I guess front month will be under pressure until the rolling ends as other ETFs starts rolling. Interesting that these commodities ETFs don't do rolling spread across the entire month like VXX.
Account largest daily increase, unbelievable.
Shorted 1K UNG shares. I didn't sell enough but it collapsed. Have to wait for pop after inventory report if it ever happens.
Short Term Trading:
- CAT: Shorted 1 set.
- TRIP: Shorted 1 set.
Missed VXX short term trading, again not much faith in the rules.
Account some plus. VXX 3+% contango. VXX back to its business as usual.
Sold 6 VXX Feb ITM calls.
Shorted 1.4K UNG shares.
Sold 10 UNG Feb deep ITM calls.
Account some minus. VXX again pushed up right after market close. What a ride with UNG today, debating whether to close some UNG positions to lock-in profit or hold until Spring arrives.
Finally closed all remaining 150 USO deep ITM puts long under $33. Not at today's best price but couldn't wait any longer when it hit last low back in Nov. Left some money on the table and it may well go down further but what more can I ask for after riding it down from near-top in the summer with 297 deep ITM puts at the peak...
Account some minus. VXX is hanging in their. Looking forward to post-earnings action..
Closed 3 UNG next week deep ITM calls sold at 7% (based on UNG price, not option premium).
Rolled 20 UNG calls sold to next week deeper ITM.
Closed MA shares short.
Very frustrating day. Looks like what I was worried about is happening..., hope I am wrong...
No VXX trade. Missed shorting more when it bounced tday. Hesitation is always the problem.
Writing small program to analysis better strategy for VXX short day trading.
Sold 20 UNG weekly deep ITM calls. Wish shares are available for short. Would UNG fly too on good news form FED?
Shorted 1 set of CAT shares
Shorted 1 set of FFIV shares
Practicing scaling with smaller number of shares at fixed price interval.
Account good plus thanks to VXX short and other short plunge. Just afraid that now I'm heavy on VXX short, market will plunge after tomorrow's FED announcement. It didn't do that for so many recent FED announcement when I was betting for down move... I guess I'm in much better position now for the move in either direction, I hope...
A lot of trading today:
Closed 10 SVXY Feb calls sold.
Sold 30 VXX Feb deep deep ITM calls.
Moving around from VXX shares short to
VXX deep ITM calls sold, SVXY long.
Closed ATHN shares short.
Closed 10 STX Feb calls sold.
Closed 1.5K PZZA shares short.
Closed 1.5K STX shares short.
Closed 10 OUTR Feb calls sold.
Closed 0.5K TXN shares short.
Closed 1K QCOM shares short.
Closed 1.5K UAL shares short.
Closed 0.25K KORS shares short.
Closed 10 UAL Jan 2016 calls sold.
Closed 10 UAL Jan 2015 calls sold.
Account all cleaned up except several larger market short items.
Account a bit more minus, much better than Friday. I thought VXX is about done today before market close, $3 up on S&P 40 point down. Today, it wasn't as strong as Friday. But, it got stronger after-hours without S&P down much after-hours. After-hour spike makes me nervous. I guess real battle begins now. Still thinking VXX $56 at S&P 1700, it's getting close to peak I hope unless a real bad news comes out.
GS calls sold expired worthless.
Shorted small # of UAL shares.
Account some minus.
Account good plus. VXX not up much. I guess a couple of more down days are needed to push VXX up. Been a while for a down day like today, would this be a one day affair like past several times? SPY went down below recent low but was supported at the last high (resistence)...