I rolled my 32 strike VXX LEAP down to 23 strike.
music selection: “Become The Storm” — Dee Snider
I bought 10 VXX 32 strike puts with the 21JAN2022 expiry on 3JUN2020 for 14.65 a share. Today, my price target of 15.75 was reached. I sold my puts for 15.75 share and booked $1,100 in profit. That is an 8% return over 64 days or 43% annualized.
I rolled down to capture additional downside to the 23 strike. I have 16 contracts at 9.15 a share pricing. I’ll target rolling again when the underlying gets to the 23 strike.
Devour your prey raptors!