Buy the Blood (VXX)

[Steven Place]

Talked about this last night. Ready to scale in some short VXX.

Buy to Open VXX Jan/Mar 27 put calendar @1.45

Will add to the trade if we run into the 36’s

Here’s the thinkorswim order to copy and paste: BUY +10 CALENDAR VXX 100 MAR 15/JAN 15 27 PUT @1.45 LMT

[Shelley Katz]

What does it mean
Buy to Open VXX Jan/Mar 27 put calendar @1.45
can you be more explict with your trades

[Steven Place]

I’m going to trail a stop on this trade. I want to milk it for more… but the main issue I see is that the March puts may end up seeing the implied volatility drop as the risk in the market goes lower. That would not be good for the the calendar spread.

I’ll just go ahead and call out a sell order:

Sell to Close VXX Jan/Mar 27 put calendar @ 1.95 or higher.

If you want to trail a stop, use a close back above 30 to bail.

[Author]

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