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Shortputvertical

NEXT WEEK: VXX SHORT PUT VERTICAL "LADDER"With volatility sticking around these lows, I'm looking at dispersing risk across several expiries of VXX by laddering short put verticals in June, July, and September (unfortunately, there is no August expiry yet) while I continue to work my VXX short call diagonals. Here's what I'm looking at now in the monthlies: VXX June 12/15 short put vertical ($105/contract at the mid) (the 11 strike's a no-bid) VXX July 11/14 short put vertical ($90/contract at the mid) (10's a no bid here) VXX Sept 9/13 short put vertical ($104 contract at the mid) As with all VIX/VIX derivative product setups, I'll look to take the money and run on these if they move into profit (I'm thinking 50% max, as with any credit spread).
CBOE:VXXLong
by NaughtyPines
SOLD RUT/IUX APRIL 15TH 1075/1085 SHORT PUT VERTICALAfter buying back the short put vertical side of this short duration iron condor yesterday at 50% max, I'm resurrecting the short put side here to hedge against the possibility of further upside in the Russell. The setup is rather tight, with a scant 20 strikes between my short options, but the model is telling me that the 1075/1085 short put vert has a 70%+ probability of profit for that expiry, so that's what I'm mechanically going with. Filled for a 1.41 credit ($141/contract). I'll look to take the entire setup off in profit or the wings one at a time ... .
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by NaughtyPines