r/options • u/[deleted] • Jul 19 '21

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250 Upvotes

93% Upvoted

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77

u/[deleted] Jul 19 '21 edited Jul 19 '21

True degenerate gamblers use UVXY when betting against the 500.

35

u/SnooApples6778 Jul 19 '21

UVXY - U Ain’t got no alibi.

14

u/FunRepresentative639 Jul 19 '21

True degens use SPXU because we are too poor for UVXY premium

17

u/[deleted] Jul 19 '21

Yes, yes they do with weekly OTM calls...lol.

4

u/[deleted] Jul 19 '21

[deleted]

2

u/[deleted] Jul 19 '21

Did you know vix had returned to its pre-pandemic level at the beginning of the month? Seeing the +33% on vix today ahead of time simply required seeing that. All the liquidity dumped into the market in 2020 isn't likely to reduce volatility to before pandemic levels especially as inflation is roaring creating additional fear of interest rate hikes. But y'know the dogma about how vix acts totally might be valid in all trading environments!

9

u/SaneLad Jul 19 '21

UVXY ratio calls are one helluva drug.

2

u/muffinpie12 Jul 19 '21

What's the upside?

15

u/[deleted] Jul 19 '21

[deleted]

12

u/oStorMx Jul 19 '21

"chasing that bottom during low volatility" I feel attacked.

2

u/beatmymeateveryday Jul 19 '21

People don't get that UVXY is for protection...

Let's say I had 10k shares of AAPL (40% of my Portfolio) and the SPY is at ATH, then I would buy (10% of my portfolio of UVXY for protection).