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Coach
Bought back into USO July 2nd, $26.
Looked into UVXY quite a bit and premiums still looking a bit too high ATM so waiting it out
Coach
What strike date you thinking?
Coach
I’d do June 26 + some in mid july. I’ve started layering in some later expiries as well in case I’m right but with the wrong timing
Coach
A lot of people here also advocate for much much longer expiries, which definitely has its merits as well, but I think this starts to play out in the short term. I might push the June 26s to July 3rds, but we’ll see
Coach
Yeah placed a limit order on July 2nd, $26 puts for USO at 1.35 now I wait and see if it fill. Would have to move up at least another 20 cents i think before it triggers
Coach
*1.45
Coach
I actually like that better, looots of nervousness leading into 4th of july celebrations if we see a continued surge in cases until then
Coach
Filled! Lets watch these puppies ride
Enthusiast
Curious what strikes? I think upside is capped now (maybe 75 on UVXY) so still profit to be made but my exit is around 65. Or at least scale back my position and let a few ride
Coach
Limit order to double the amount at $1.1, same expiry. Buying in 7 more put contracts if we hit it
Coach
UVXY calls might be going down soon
Coach
Order filled at $1.1
Coach
In on USO, pretty heavy so might skip on UVXY unless it drops HARD which i’d be surprised to see
Bowl Leader
I wouldn’t buy calls here at all. Going to get crushed over next couple weeks. Wait for S&P ATHs off Fed news.
Coach
When do you expect SPY to hit ATHs?
Mentor
Yeah did not expect this level of FED intervention or this amount of rally. Thought markets were going to close minimum 3% down
Coach
Honestly this might be the best time to buy UVXY short term calls - we just had a face ripper of a rally