2/19/12

I am still long June calls on the $VIX, but my timing is off.  Today I added June calls on $SPY to gain some exposure to the S&P and hedge the $VIX exposure.  I should have done this to begin with but I thought I was hedged enough with some of my other long equities.  Now I can afford to wait longer for the $VIX and $SPY to converge, at which point I will sell the $SPY calls of course.

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One Response to 2/19/12

  1. bw113 says:

    Day after I write this $VIX up 19%! Nice to see some normal volatility. Had to sell the $SPY options quick but overall great day.

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