I sold the UVXY puts.
music selection: “Between Love And Hate” — The Strokes
weigh-in: 205.2 +0.2
I originally purchased UVXY190118P00020000 on 8AUG2017 for 10.25 a share. Volatility soared shortly thereafter on international tensions with North Korea. I was able to sell today for 11.24 a share. The trade was in force for a scant 6 days and yields and enormous 587.56% annualized. For sure, this is not going to be very repeatable but you have to take big gains when you can get them. I’ll be waiting for volatility to calm down a touch before re-establishing a position.
In other news, Avis (CAR) passed its stop loss of 18.05 on Friday. I sold today for 18.79. The position had 223 shares outstanding and basis of 5,929.61. Proceeds were 7,825 for a net loss of 1,895.46. The trade was in force for 308 days and yields negative 37.88% on an annualized basis. It has been hard to be short lately but I am sticking to my guns.
Devour your prey raptors!