I rolled down the UVXY Put this morning and I’m happy with the pricing (1.55).

music selection: “Again” — Flyleaf

weigh in: 232.6# (0.8) #loser

Today’s trade was to purchase UVXY170120P00005000.  I put in my normal allocation, plus the basis from the two trades closed Friday and half the gains.  The other half the gains are reserved for taxes and diversification of the investment.  I’m leaning strongly towards adding to my closed end fund municipal bond allocation.  Safety first!

The goal from here out (which has been evolving for some time [because dinosaurs evolve]) is to target 150% annualized return before selling.  I will also exit win/lose/draw if the put moves into the money.  The constraint is I won’t close and roll out until there is a strike lower than 5 to roll down to.  Strike 1 through 4 should open up as the price continues to decay.  Another reverse split should follow as well.  They make the book-keeping messy but they keep the options trade-able.

I’m working with the notorious and infamous Dr. Doom on a new logo image for the blog.  Ok, its mostly Doom working while I critique his already excellent work.  The new logo promises to be punchier, less busy, and far more toothy.  Because a raptor image should inspire fear.  Look for it soon.

Devour your prey raptors!

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Rolling Down UVXY Put

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