The Lizard King cleared 500% annualized on a trade today.
music selection: “I Am The Highway” — Audioslave
Previously, I purchased UVXY170120P00010000 for 3.65. That was on 9SEP2015. I expected to hold this position for at least a month but an unlikely to be filled limit sell order came through this morning at 9:42:38 Eastern Time. I sold for 4.00 even. With time in trade only 7 days, the annualized return clocks in at 500% [ ((4-3.65)/3.65)/7*365 = 5.00 ]
This is my best annualized return since starting the blog and will not be consistently repeatable. It is an artifact of recent inflated volatility and the short term return towards normalcy. I guess the lesson for studios raptors is that when the markets are jittery, put in the limit orders of your dreams and be patient. Sometimes you get lucky.
I have not yet been able to roll this put down and out. I have a stink bid out on UVXY170120P00005000 and will continue stink bidding it until the market fully recovers from recent turmoil. I’ll keep you posted on progress on these pages.
The scheduled follow up trade article on WFC will now come on Friday.
Devour your prey raptors!