I was finally able to sell my UVXY puts.
music selection: “In-A-Gadda-Da-Vida” — Iron Butterfly
Back on 9SEP2015, I bought the five strike LEAP puts for UVXY at 1.40 a share. Volatility spikes sent the position deeply underwater but it finally recovered. Today, I sold the position for 1.59 a share. The position was in force for 317 days and yielded 15.63% annualized. I’ll admit to being “wrong” on the call this time. But when your ‘bad’ trades yield almost 16% annualized you are doing pretty well.
I replaced the puts with UVXY180119P00004000 and paid 2.05 a share. I’ll hold the position at least 30 days before selling so I’ll hold through the 1:5 reverse split. The adjusted strike will be 20.
In other news, some positions expired today. Puts on QCOM and MSFT expired out of the money. I’ll reopen puts here on Monday. Covered calls on LNG and DIS expired out of the money. I’ll be rolling those positions as well. A covered call on GSK finally expired in the money. I’ll say goodbye to the shares and exit the position.
Devour your prey raptors!