Time to open new LT Long Portfolio Hedges using our favorite vehicle… the VIX.
We are evaluating the appropriate strikes now and may open an initial position at the close, or we may wait until tomorrow morning.
Will update in a few minutes.
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3:55 PM Update…
BOUGHT – OCT 25 CALLS @ $7.90 (Debit)
SOLD SHORT (60%) – JUN 35 CALLS @ $1.30 (Credit)
SOLD SHORT (40%) – JUN 32.50 CALLS @ $1.90 (Credit)
We will continue our strategy that was very successful last year of selling premium against our LT VIX Calls, plus adding as appropriate when ST ITM premium gets skewed to the negative with the OTM premium in the positive. More discussion on this later…
