i am loaded up on those and $20 vxx puts now. both march. I'm just sitting back and watching this ridiculousness and letting the products do what they do! I probably won't be around after today. just checking in to see if anyone got blown to bits!
started today at 25 in the futures. median future from the beginning of time is 16. 9 over 25 is 36%. 36% times 2 will be 72% drop from $50. gets you my $15 strike. with any luck we'll enter contango again and the market will come to its senses.
the uncertainty will be gone and this market is way oversold going into this Fed statement. I'm waiting for the announcement to take a position. any talk of one and done, and the market goes up 500 points.
well, I've made as much as 600% on them some weeks, and there's weeks like this where they go worthless...way overdone to the upside, but no reason for anyone to step in front of the selling I guess. oil is way overdone again, good to see my big oils holding up.
ride the Elliott waves with a giant candlestick! way overdone selling now. thought we'd get a steep selloff to reach this 2,050 area on the sp500, now we bounce back to 2,100.
it's 99% certain this falls. the 1% where this doesn't fall is if the vix futures somehow remain in backwardation indefinitely and there is zero variation in price. otherwise, it's the worst product around and should always have a short position against it. I have march puts. I play weeklies like today and wed. I used to short it, but too risky. twice burned pretty bad, thank goodness I hedge, but this is still the easiest money out there.
if you are long this, sell it right now. when you understand the product, place your bet. there is not a direct correlation between uvxy and sp500. I've been here since inception of this and tvix, and I've seen big negative days where uvxy was negative, and I've seen positive market days with uvxy positive. the vix futures right now are extremely elevated compared to spot, so you will see a huge selloff in uvxy in the next week or two. I expect single digits by march. do your research and don't lose money on this. use spy puts if you want to bet against the market.