VIXY Bearish inclined Naked Calls 17 June Expiry

• Whats The Plan/Trade/Thought
  For some reason the VXX options contracts seems to require a lot of Margin/BP to develop a decent premium. As such I decided to look at other VIX related ETFs and found VIXY well priced and from my research has a closer correlation with the VIX
  
• Over the past year of trading options i’ve come to realised that I’m really trading volatility in the different sectors. This trade is my hedge trade and while I believe we are in a bearish situation now, I believe we will be ranging at least for the time being. Hence I am somewhat not directional with VIXY
  
  Risk Mitigation
  
• I have two S&R points for this trade with the key S&R 1 at 26.64. This will be my guard rails and reaction points for risk mitigation
  
  I Feel
  
• I feel comfortable on this trade, I’m somewhat still feeling the effects of last month. But I cannot let that influence me
  
  Imagine Yourself Taking The Other Side
  
• This is a possibility given that I am not directional but I could only mark one S&R point
  
  Look For New Information
  
• By selling Calls, I am accepting that there won’t be a steep reversal
  
  How Do I Feel Now
  
• Clear on why I have taken this trade
  
  Trade Specs
  
• Sold 255 Calls @ 0.27 - Strike 27
  
• 46.26% to Strike
  
• BP Used 85K
  
• Max Gain $6630
  

Trade closed: target reached:

Yay!