I bought puts on ProShares Ultra VIX Short-Term Futures (UVXY) today.
music selection: “We Got The Beat” — The Go-Go’s
I had expected to write a post about waiting patiently and not being able to trade every day in the market. But while I was helping my dad’s neighbor perform brain surgery on a Windows Vista machine with a corrupt login file, a stink bid filled. So that’s today’s lesson instead. When in doubt, enter a stink bid and forget about it. You might get lucky later in the day.
I was able to purchase UVXY170120P00010000 for 3.65 today. I will be holding for at least 30 days and then exiting at the first opportunity to do so at 150% or greater annualized return. Recent trades on this theme have exceeded 200% annualized return. Here’s hoping.
Devour your prey raptors!