Continuing my theme of betting against the market by not really betting against it, I am allocating 10% of my assets in [[VXX]] , under $24.40.
Disclaimer: If you buy [[VXX]] because of this post, the next time you visit the zoo, an ostrich will kick you in the face. And, you may lose money.
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Market will continue to melt higher. We are overcoming fears of double dip every day.
Financials are holding gains
Everyone says that.
Strange no?
“Everyone” except all the rubes buying puts.
________
are you a rube?
” an ostrich will kick you in the face”
That would be the last thing that ostrich ever did.
gangster.
Frank White has retard strength when angered.
lol.
___
Buy 10,000 DIVX
http://ibankcoin.com/henry_fool/2010/03/11/buy-10000-divx/
You and i both know this market is going higher, resulting in tremendous losses against me via SDS.
It shouldn’t go higher. And it probably won’t go much higher.
I’m convinced the forces that be want to prevent technical damage at all costs by preventing the appearance of a double top. So they’ll take this a little higher, maybe only to 1165.
Anyway, i think that was Scott’s call. And i fear he is right.
Fly, you do know VXX is another shitty ETF ala the FAZmobile? Perhaps not as egregious as FAZ or SRS but look at VIX in the Jan decline , it went fm 17 to 28 or 65% … VXX oth did maybe 10%.
Yes. I know.
We all had a turn at telling the Fly what a wanton piece of garbage VXX is
Juiceyfruit is right….VXX is a broken POS. VIX up 10%? VXX up 3%. VIX down 5%? VXX down 6%.
The best thing to do to play the VIX is buy some in the money April S&P puts. If the VIX goes up, so does the premium.
what is the symbol to pull up VIX options… I’m looking into a small position in calls
The symbol to pull up VIX options? Why does this sound like: “I just cashed my paycheck, now can you teach me how to play poker?”
If you’re unsure how to pull up options chains on a security, don’t get involved with Volitility products. These are not the products to learn on.
rofl
hey douchebag i may be new but im not an idiot and im not buying because the fly did… i like the chart and think there is a strong chance S&P moves lower from here with strong volume because of the recent lack of volume and weak uptrend. i just cant figure out which symbol to use on my platform because ive never purchased a vix option, and although VIX option chains are easily visible on sites like optionmonster.com, when i enter “VIX” or do a search i get nothing on my platform
if you are concerned for my well being then thank you
It’s not found on many of the common quoting sites but MarketWatch for instance has them
What is the name of the actual underlying symbol to get the chain though? Ameritrade (yea I know it sucks but I got 6 dollar commissions and am switching to IB) doesn’t give me any results when I enter VIX into the symbol lookup and I’ve tried numerous other combinations
VIX is an index, fyi, so whatever Ameritrade does to distinguish indexes from stocks is what you need to put in front of the symbol. For example, on thinkorswim/Prophet it’s the ‘$’ sign. So to look up a chart of VIX, I’d need to enter $VIX.
In any case, if you’re “new” to options, I’d highly recommend staying away from VIX options. They won’t behave anything like you’d expect.
Just buy some SPY puts instead, if you’re betting on a move down.
I just thought move to 20 sma was very very likely on the VIX and possibly beyond (based purely on the chart and my interpretation of current market conditions). but because i couldnt figure this out in time i missed a significant portion of that initial move already and its not worth getting in anymore
You didn’t mention $VIX 20-day sma in your initial query, so that’s why I recommended just buying some puts on SPY.
But like Steve Place told you on the next thread, it’s not that easy. $VIX options don’t behave like “regular” options. Always remember that the $VIX “predicts” 30 days out…not the now.
thanks for the response though, much appreciated
“I may be new but I’m not an idiot”
That’s usually a good start to a bad ending. Being new at trading = being an idiot. It’s a learning process, dude.
Listen guys I asked simple freakin question I don’t need the condescending BS. I’m not putting any size in this it is just to satisfy my own speculative feelings I would literally be putting less than 1% of my portfolio most likely and I might not even do it, I just want to get an answer holy shit
The Fly is Ivan Drago
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