$UVXY $VIX $SPY- Daily chart
Looks like capitulation to me on UVXY. VIX / VXV ratio below .80 only weekly chart, 3 of past 5 weeks, which hasn't happened in over 3 years. It's possible we see a big move next week. The probabilities support it, IMO.
I get it, TA on a derivative of a derivative isn't technically sound, but providing perspective based on the MASSIVE sell volume into these lows. Open gaps above and none below.
Surprising to see this type of complacency at major resistance and so much global risk. Wreaks of manipulation. Friday, we saw VIX May 25C's being bought and a 5K block of UVXY Apr 22
24C's. Could be a cheap hedge on larger position, but I like the R/R here.
Also VIX OPEX on Wednesday w/ max pain at $19. Friday's OI still needs to settle, but Put premium at 57M and Call premium at 60M. VIX closing with a $13 handle sure makes it interesting. If they keep vola low into Tues, I will load the boat on
UVXY calls.
Friday, I went longUVXY Apr 29 23C's @.66
I get it, TA on a derivative of a derivative isn't technically sound, but providing perspective based on the MASSIVE sell volume into these lows. Open gaps above and none below.
Surprising to see this type of complacency at major resistance and so much global risk. Wreaks of manipulation. Friday, we saw VIX May 25C's being bought and a 5K block of UVXY Apr 22
24C's. Could be a cheap hedge on larger position, but I like the R/R here. Also VIX OPEX on Wednesday w/ max pain at $19. Friday's OI still needs to settle, but Put premium at 57M and Call premium at 60M. VIX closing with a $13 handle sure makes it interesting. If they keep vola low into Tues, I will load the boat on
UVXY calls. Friday, I went long
UVXY Apr 29 23C's @.66
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.