XIV does not have options.
Did you mean to sell puts in SVXY?
UVXY is 2X
Take a look at the new Seeking Alpha article "Why Shorting Volatility Now May Be A Very Favorable Trade" which includes a discussion on SVXY.
Re SCO, Dennis Gartman and Cramer are both saying that oil may have bottomed. Their track record may not be the best, but I decided to go ahead and close out my puts in USO. There may be more downside to oil, but trying to catch those few more dollars is probably not worth the risk.
This indicator worked perfectly. They were talking about this 5 day trend line on the CNBC noon show before it broke through to the upside. They said if it does break through, then buyers will be coming in. I ended up buying QQQ calls both before and after it broke through. Also, some VXX puts around noon.
This is what the traders are closely watching.
530? Reminds me of when I had sold my entire position in C in 2009 for $5.30 ($53.00 post reverse split).
I am considering buying back in around the mid 40s, but only as a trade.
Most of those sellers were probably on vacation. Their stop loss orders ended up being market orders at the morning low. How are they going to enjoy their vacation knowing they sold 10% below the current market price.
With UVXY at 40.50, I am looking at the Sept 32/28 put spread for a debit of around 2.00 This would be half the width of the spread. I figure regardless of when I buy in, there would still be a 50/50 chance that I am correct. Should the share price continue to rise, I could close out the short puts for a profit and continue to hold the long puts.
Anyone have ideas for shorting UVXY with put options?
If the Fed does decide to raise rates in Sept, how bad will it affect the market? It appears that everyone is already expecting a rate increase.
Hillary probably used her Gov server for general email from the public and her private server for her personal friends which probably includes those in her direct line of communication at work. Any hacker would first need to know her private email address before her private server can be hacked. This may not be a major hurdle to someone who really wanted to hack her emails, but at least this would be an additional line of defense.
To hack into OPM, all the hacker would probably need would be one valid user name and password for just one gov worker or retiree in order to get into the main computer containing all of the data. With so many computer data files being hacked, including those of the credit bureaus, it should come as no surprise that OPM was hacked.
The IRS just announced that over 300,000 accounts were hacked. How about the millions of Gov worker's files which have been hacked. Also, the email hacked at Sony. And all of the other corp. data which was hacked. So which server is safer?
The 6 month S&P trading channel is so powerful that traders are just going to play it, rather than go against the trend. However, the longer the channel, the greater will be the breakout (up or down) when it does occur.
This 5% trading channel is so perfect, it makes you wonder if the market is being controlled by the gov. With unlimited funds, they could buy and sell at support and resistance to keep it within the channel. There was a lot of call buying this morning in the SPY.
I don't know. My time frame for this play is only until the end of next week. I agree that a big correction is overdue. But I think the safer bet for the short term would be to just follow the trend.
In my previous post, tomorrow (Thursday) is the day to go long the market (or short UVXY). It looks like it is setting up perfectly for this play. Since it is so close to 2050, I am going to start buying in today. According to this strategy, next week should show a profit.
The put/call ratio for the SPY is now around 2.00 A month ago, it was over 3.00
It appears that more traders have hedged their position. Maybe this is the reason why the market has not had a large correction in awhile.
Looks like the traders are waiting for yesterday's gap to be filled before buying into the market.
I actually did buy some Sept 30.00 UVXY puts on that Thursday in July. I closed them out last week. I may hold back on the size of my positions if Thursday ends up being the high for the week. Since I am not able to find UVXY shares to short, I will probably just be doing a variety of put plays.
Did anyone do this play last month? It has worked perfectly for 2 months in a row so far. I had closed out my calls on Thur, the day before July monthly exp. The QQQ rallyed on exp Friday so I left some money on the table. But I am not complaining. I just want a piece of the pie, not the whole pie!
This Thur, Aug 13 is the day to go long the market. If lower on Fri, then add to your position. The market should be higher during the following week of monthly exp. I have not yet found the video, but my notes say it was called "Dip & Rip" if anyone recalls this strategy.
From The Telegraph, UK
"The iPhone 6s' sale date has been given away in a leaked internal email from Vodafone. The email reveals the newest handset will go on sale on September 25, with pre-orders being accepted from September 18. The memo, seen by Mobile News, does not clarify the exact name of the model, called simply 'the new iPhone'.
According to the Wall Street Journal, Apple has asked its suppliers to produce a record number of new models - between 85 million and 90 million compared to last year's 70-80 million, suggesting strong faith the new generation of iPhones will outsell its predecessors."