VIXY - BULLISH - Making Turn Today
Watching SPY and VIXY recently and the inverse relationship between them.
VIXY is at all time lows, RSI bottomed out.
SPY is at all time highs, RSI topped out.
Perfect time to do a Bullish Put Credit Spread on VIXY - collect the premium. $340 risk, $2500 reward.
Then buy SPY put 30 days out. $485 risk, unlimited payout (but realistically $775-$1500)
We should see VIXY and the VIX related derivatives bullish through December.
The charts are overly suppressed for long periods of time.
If price is like a beach ball held under water, the longer its held down and deeper....the stronger the rebound towards the surface.
I will update this chart for as long as I am in the position.
What is a vertical credit spread?
It's what insurance companies do - collect a premium, and if sh*t doesn't happen they keep it. If it does, they pay you with your own money.
youtube.com/watch?v=7QfablpqeQc
Previous Charts
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
VIXY is at all time lows, RSI bottomed out.
SPY is at all time highs, RSI topped out.
Perfect time to do a Bullish Put Credit Spread on VIXY - collect the premium. $340 risk, $2500 reward.
Then buy SPY put 30 days out. $485 risk, unlimited payout (but realistically $775-$1500)
We should see VIXY and the VIX related derivatives bullish through December.
The charts are overly suppressed for long periods of time.
If price is like a beach ball held under water, the longer its held down and deeper....the stronger the rebound towards the surface.
I will update this chart for as long as I am in the position.
What is a vertical credit spread?
It's what insurance companies do - collect a premium, and if sh*t doesn't happen they keep it. If it does, they pay you with your own money.
youtube.com/watch?v=7QfablpqeQc
Previous Charts
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
Disclaimer
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