Stock / Symbol: [private_monthly]iPath S&) 500 VIX Short-Term Futures / VXX[/private_monthly]
Entering Option Strategy: diagonal call spread
Trade entry date: Mar 24
Price at trade entry: $30.66
Price at this post: $20.32
Current Position:
[private_monthly]
Long 1 VXX Jan12 30 Call
[/private_monthly]
Adjustment: With the [private_monthly]VXX[/private_monthly] hitting an all time low today, we're going to take the opportunity to roll our 30 strike call into a 20 strike. This will enable us to start selling near term calls for generating weekly / monthly income from the position.
Trade Details:
[private_monthly]
STC 1 VXX Jan12 30 Call
BTO 1 VXX Jan12 20 Call
for a net debit of $2.25 per contract
[/private_monthly]
Max Risk: $844 (adjusted up from $619)
Max Reward: unlimited
Profit Range: $28.44 +
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