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For the degenerate gamblers out there:
VRX reports earnings next week. Look for a short squeeze as shorts take profits and reduce their risk into that event.
VRX Mar 70 Calls @3.80 is a good bet.
Stops sub 65
For those that are wondering:
2023 is 78.2% Fib
More important it’s the yearly pivot of the spx. ES is already trading above it.
(chart data delayed 24 hours)
‘Risking 1 to make 3’ crowd isnt very happy today, after getting stopped out 3 times yesterday and missing this overnight move.. just scrolling through my TWTR feed
Crowd is net short in this.
Looking for SPY to fill the gap
204
AAAAANNDD as I made adjustments to my positions we are ready to revert! you’re welcome
Steven, I am sure some one asked you this question before. You can refer me to an archive if you want.
Why do you use VXX put as a hedge to the upside risk in an Iron condor instead of a call? And do you recommend cutting the short delta to half or 2/3rd with the VXX put hedge?
Thanks