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Tag Archives: vxx
Some Charts
Tuesdays Gone With the Wind
Another Tuesday Trading Session in the books. While the media likes to give an exact reason why the S&P500 and DJIA hit record highs, I'm pretty sure stocks were going to head higher even if Yellen did not speak today.
Courtesy of CNBC.com:
Home Depot blasted to new lifetime highs today after reporting earnings that impressed investors. They also announced an $18 billion share repurchase program.
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Trade Update: Closed Out $VXX Short For a Profit
A couple of weeks ago, I gave a trade update on my short VXX trade. My trade was to short the VXX calls in anticipation that geopolitical fear would recede and that the market would bounce back. I was correct; since my trade, the VIX/VXX has tanked and the market is back in rally mode. I closed out the short calls for a 65% gain. I hope that this trade shows you a couple things.
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Selling VXX Calls Short
After today’s market sell-off, the VIX rose a mammoth 35% and the VXX rose 10%. Two major global issues occurred today. The Malaysian Airline plane that was shot down, killing all on board, worried traders. In addition, Israel began a ground attack on Gaza. All of this led to the S&P 500 having its first down 1% in over 60 trading days and has given us another geopolitical crisis. What now?
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