The markets are closed for President's day so the All-Star Panel gets a day off. But that doesn't mean there is no show! Join us for a trip down memory lane to the very first "sneak preview" episode of The Option Block from September 2010. Enjoy!
VIX Options - ADV:476k, Total 6.20M (4.86M Calls, 1.34M Puts)
VXXB-32.5, 2.5-points lower than last show.
SVXY-46, unchanged from last show.
VOLATILITY VOICEMAIL
#QOTW - $VXX is dead! Long Live $VXXB! There's a (somewhat) new kid on the #Volatility trading block. Are you trading $VXXB #options yet? If not, how are you getting your #Volatility fix these days? $VIX $TVIX $SVXY
43% -Yes: Jumped into $VXXB
11% -No: Spreads are too wide
14% -No: Prefer $TVIX, etc
32% - No: Prefer $VIX #options
Question from Thomas Weber - If I am short a deep in the money call in SPY (delta near 1), what are the odds I will be assigned the Thursday night before Friday expiration?
Question from Jelevis - Does it make sense to just get long ratio vertical put spreads in VXX as opposed to just buying the puts? Make the premium negligible so you don’t get hurt if it spikes against you in the near term. If it drops it will probably do so slowly so you have time to get out. Or you can just pick up VXX shares - at a hopefully low strike price so further erosion will be limited. Then you can always just wheel out of those if the need arises. Thoughts Vol swammis? This the VXX silver bullet trade?
CRYSTAL BALL
Last week:
Mark L. - 17.25
Mark S. - 16.25
Next week:
Mark L. - 15.50
Andrew - 14.25
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