Stock / Symbol: IPATH S&P 500 VIX SHORT TERM / VXX
Option Strategy: vertical call spread
Trade entry date / price: Aug 27 / $27.85
Price at trade close: $27.67
Reasoning: We did see volatility briefly rise, only to right right back down. Just going to cut losses here. The current greeks are: 50 delta, -1.7 theta, and 0.7 vega.
Closing Trade Details:
STC 2 VXX Sep14 28 calls
BTC -2 VXX Sep14 30 calls
for a min net credit of $0.25 per contract. The mid is currently at $0.28 (day order, limit order).
Try for the mid or mid -0.01
Max Risk: $104
Max Reward: $296 or 284% @ 30+ by Sep 19
Profit Range: at/over $28.60 by Sep 19
Suggested Downside Stop: @ 25
Suggested Upside Stop: NA
Realized Profit / loss on Trade: ($44)
