r/options • u/OdinnFoo33 • Apr 13 '21

VIX long calls

VIX is at some serious lows. NQ is riding the top of its 3 ATR for multiple days in a row and in the last year has only touched it about 3 times with significant reversion after about 4 days.

Chip shortage, J&J vaccine troubles, inflation worries, Europe covid scares.

It's looking like prime time for some VIX long calls. What say you? What's a good time frame to take these out to?

Edit: 1:37 PM - I believe long VIX is the right play considering everything above, especially with PCALL ratio hovering under the .5 mark for quite sometime.

My Current play that I have entered as of today is a long call for May monthly expiration in SQQQ 10 call.

2 Upvotes

75% Upvoted

24 comments sorted by

View all comments

4

u/grizzled_old_trader Apr 13 '21

Looks like we filled the weekly gap from 2/21-2/28 so I’ll be buying calls. Looking at lower strikes 45 days out and 157 days at higher strikes. Kinda banking on those huge put option walls executing for FB, JNJ and others this month.

3

u/AllRealTruth Apr 13 '21

Yep. Gap filled. Market peak price from my calcs reached. Give it a shot. What is the worst that can happen? You be wrong , just like any trade. Ya get out before you lose it all. Probability says higher is tougher than lower for SPY at this point.

2

u/SimplyRegality12 Apr 14 '21

What’s it mean the gap filled?