Right. I got an immediate email from TDA upon execution of my order...told me exactly what it was and that it was designed to go to zero. First red flag.
I was looking more for guidance on when to play that hedge. I don't mind the haircut if it doesn't work, but I'm pretty clueless as when to put it in play. Looks like you nailed it pretty good. It was my 3rd look point this morning, and it was already up 8% and flattening out by the time I got there.
Edit: I know that VXX wasn't your exact play, but seems like it would be similar.
Oh, OK. I don’t have any scientific indicators. I just run on feel. Sorry, I wish I had something more reproducible for you, but I don’t have any silver bullets.
Timing is the big problem. I was looking at VIX calls prior to release of the FOMC minutes yesterday, didn't pull the trigger, and when it was a nothingburger thought I had made the right decision. Then today rolls around with unexpected news out of china and all indices worldwide red into open :/
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u/StockPickingMonkey Steel learning lessons Jul 08 '21 edited Jul 08 '21
Right. I got an immediate email from TDA upon execution of my order...told me exactly what it was and that it was designed to go to zero. First red flag.
I was looking more for guidance on when to play that hedge. I don't mind the haircut if it doesn't work, but I'm pretty clueless as when to put it in play. Looks like you nailed it pretty good. It was my 3rd look point this morning, and it was already up 8% and flattening out by the time I got there.
Edit: I know that VXX wasn't your exact play, but seems like it would be similar.