VIX and Trades

Apr 08 25 calls going for .70 today. Might have made a nice little profit . I failed to mention lat post that a strategy of selling OTM calls like that puts you in the way of potential black swans. Selling OTM calls is what made Victor Niederhoffer blow up (twice!).


A multi-leg strategy is probably much safer and less piggish.


12:24 PM Update: Apr 25 calls last sale at .50. I would take gains right now from initial 1.00 sale. Also made the following two trades today:

BOT 120 SPY at 138.11 (Stop-loss at 132.58, Target of 139.00, If SPY breaks through 140.00 I think next stop is 143 - 145)

BOT 100 QQQQ at 46.19 (Stop-loss at 44.34, Target of 47.50)

Trying to take advantage of what I believe to be the counter-trend rally that is currently going on. Will take profits very quickly if I feel sentiment gets skiddish when banks report in the upcoming weeks.

Also, I am fully aware that there is not much upside potential relative to where I have placed my stops for these trades. Although I have potential near-term targets I won't necessarily take profits if we reach those levels. That's why I have a relatively large move of 4% for my stop and near-term price targets.