I sold the 8 strike puts.
music selection: “Mountain Song” — Jane’s Addiction
On 17NOV2016 I purchased 45 of the 8 strike 18JAN2019 expiry UVXY puts for 5.65 a share. The position has moved into the money so it is time to sell. This morning, I sold the position for 5.85 a share. The position was open for 48 days and yielded 26.92% annualized.
The fund will be undergoing a 1:5 split on 12JAN2017 so I am going to wait until then to roll the position. I have a 6 strike position in my tIRA account that I might sell before the split as well. I’ll keep you posted.
Devour your prey raptors!