We got the retracement back to the 2900 magnet I was looking for after today’s action. We haven’t gotten strong follow thru below this level yet. A lot will change after opex and we could still get one final leg down in Vix before a stronger bottom. This “may” be it but the best

Way To trade vol right now is with straddles or ratio spreads. Time is your friend. Might post some plays I like in the morning.

This was one of three hedge strategies I posted on VIX: The position is selling the 5/15 VIX 35P @ $8.00 and buying the VIX 30P @ 3.83 (2 contracts for every one sold)..."These expire Friday and take in a credit of about .34 cents on about 1000 contracts so about $25,000 if VIX

goes above $35 by Friday. If Vix goes lower he has 2 to 1 exposure on the 30 puts completely paid for so he will make money on any downside as well. He will only take a big loss if they expire with VIX @ $30 on Friday which would put the ratio put buy at zero and his sale at

$5 ($35-30= $5-$0.34=$4.66). Max loss. The chances of VIX staying at $30 by Friday are very very low considering the current levels it's sitting at. It's either going to explode or retrace the gap not likely much room in between

@BluedeerC 😬 I'm not seeing any reason for you to believe this... Everything is pointing to a "V" shaped recovery... and here you go fighting the Fed. If it were someone else, you would tell them to walk away. Straddles & Strangles? you have no conviction... Long until it's wrong 👊

@ClownInvestor Where to start with this reply. Hedge funds put on straddles and strangles in dollar amounts you will never have the luxury or seeing every single day in this market environment. I personally have no strangles or straddles and only hedge when I feel it completely necessary.

@BluedeerC I doubt so.

@BluedeerC Let’s hope so! I keep averaging into my June/Sept/Nov puts as they get “cheaper”.

@BluedeerC Buying puts is because you are long stocks. Doesn’t make you a bear , makes you a smart bull. Every healthy portfolio should have longs, shorts, puts and calls.. and some will pay off and some won’t. Kinda simple

@BluedeerC Kinda started today Blue!!

@BluedeerC I did ad 50 shares of $TVIX end of day as a hedge. However $VXX on the daily looks terrible.

@BluedeerC Agreed. Market topped.

@BluedeerC Does that mean we gap down?

@BluedeerC Yea I agree. Slow day in the e minis

@BluedeerC It filled the gap, let’s see if we get a pop

@BluedeerC Just the beginning

@BluedeerC thinking of taking VIX private at 27, funding secured

@nio_bsc When you get to a point in your career when you can short 60-100 lots of $es_f people may want insight into your process too. There has been plenty of money to be made on both sides during the run up if you knew how to trade it properly. I'm also not always right, no one is.