I bought VIX puts, come take a look!!!!!!!

Discussion in 'Options' started by klurby, Jul 5, 2011.

  1. klurby

    klurby

    After all of my market speculation I came to a conclusion. BUY VIX PUTS. Reason being, I believe that once they announce the passage of the increased debt ceiling, the market will rally big. FYI: they are supposed to release the decision on or before July 22nd. The VIX will be standing their absolutely shell shocked, and it will drop, lower and lower and lower. I bought the August 17' 11 - $15 Puts. I don't call the VIX the fear index, but rather the fearless index. You can call me stupid all you want, but I encourage everyone to embrace their ignorant comments until we see what happens. All knowledgeable comments are more than welcome!
     
  2. You realize that those Aug 15P are marked to the futures at $18.05, right?
     
  3. klurby

    klurby

    Didn't know that, so that means im fked lol?
     
  4. Just a little. ($3.05 OTM, not $1.18)
     
  5. klurby

    klurby

    So what should I do then sell them back to close? How do you figure they are tied to the futures? what is the ticker for the future?
     


  6. Take a look at the Aug 18 call and put. They're miraculously priced a nickel or so apart. You don't need to look at the futures... but they're 18.05 settle.
     
  7. klurby

    klurby

    I see what you mean, it looks like I will just sell these off and cut my losses.
     
  8. Epic thread, brother.
     
  9. klurby

    klurby

    Unless you think we will go down 4 points within 2 months!?!?!?!
     
  10. The 3 handles over cash does not persist until expiration, but that doesn't mean that the futures will drop 3 by Aug expiration. You're trading a complex instrument. Next time go ITM on a long put spread.
     
    #10     Jul 5, 2011