I rolled my UVXY puts to a lower strike.
music selection: “Hologram” — Katie Herzig
I originally purchased my puts at the 13 strike (pre-split) on 14FEB2017. I paid 8.20 a share. I sold today for 9.15. The trade was in force for 175 days and yields 24.16% on an annualized basis. I have two other UVXY trades closed this year for 26.92% and 65.43%. That brings my average annualized returns to 38.84%, which is a really good result. I ordinarily do this with a 10% allocation in my portfolio so I am adding around 388 basis points to the portfolio on the year.
I bought new puts, this time for a reduced 8% allocation. I paid 10.25 a share. I bought 24 puts at the 20 dollar strike for $24,600. Target return is 50% annualized. I will be looking for more hedges in coming weeks.
Devour your prey raptors!