$iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX.US)$...

delri0 : *if they don't manipulate the hell out of it that is

knowledgeispowerfulOP delri0: you can manipulate the VXX maybe the market but that's the volatility index it's only going to go up if that's a p500 goes down

delri0 : man I hope you're right because I'm sitting on a pile of $17 calls exp 1/15 but I've already made my peace with watching them dwindle to nothing

delri0 : it's my opinion that given yesterday's events it didn't move anywhere near as much as it should have

knowledgeispowerfulOP delri0: yeah I agree it probably should have went out more considering what happened but the market probably anticipated something like this to be honest with you I saw it coming you put a dumbass like that in office and what do you expect but I'm more concerned about when they do the inauguration for biting because the market tends to sell off every time the presidency is changed especially with Biden speaking about shutting down the economy for four to six weeks in order to rid the country of covid-19 that's nobody working again as well as pressure back on companies that are still not even fully stable so I'm expecting a 10% drop on that NASDAQ and s&p for sure the DIA might stay up a little bit but we're coming into a correction and at least I'm going to prepare myself that way because it's more likely to happen than not

knowledgeispowerfulOP delri0: I wouldn't let go of them I would definitely hold by down my losses hedges on both ends play both sides do a credit spread on the tall side and put side

knowledgeispowerfulOP delri0: when I play with uncertainty especially with something like the VXX I never put my money in it I rather it sit collateral and do credit trades then stick my money in a trade that's going to decay if I'm wrong

knowledgeispowerfulOP knowledgeispowerful: and just remember when it gives you confirmation that it's going to go up and we're right all you have to do is buy another one or two call options to offset the better call option that you sold and turn it into a back ratio

knowledgeispowerfulOP delri0: that's probably what you should do if you got that many call options turn it into a credit trade so that you don't have to worry about losing your position or your money or even a butterfly where you sell twice as many contracts in the center and buy half as many on the other side so let's say I bought a $20 I would sell $2/25 and buy 1/30 dollar strike price that's a combination of a debit and a credit spread put together so no matter which direction it goes you will not lose money but that's only for the intentions of maintaining a trade that's going sideways that is a neutral position you cannot profit on it without adding conditional trades in order to offset one side or the other

delri0 : Hey man thanks for that! Thats some solid advice and I appreciate you taking time out of your day to share it with me! And I think what we witnessed yesterday was more to do with The Tree of Liberty needing to be watered...and well you know the rest lol. Those people in their ivory tower forgot to whom they are accountable to. So yes now that I think about it, at the very least it made a very loud and clear statement that should be enough to make everybody a little anxious the closer we get to innauguration. I also didnt realize the front-back month futures were in contango when I bought either