VXX - volatility trade one more time (Updated - Sept 27)

 ( This is the third time I am trying to catch the top of the volatility the last 2 months.

The way I did it the last time was to short the stock and sell a put against it.

It is a trade with minimum risk and reasonable profitable - making about 2-4% in 4-8 days.

The reason for this kind of profit is the high volatility.

I did another one of these trades today.


Trade:

STO 500 shares of VXX = 49.4
STO Sept 51 SP = 3.16

This is ITM covered put trade.

Stock can go up to 52.46 at the end of this week  before losing money.

Technically, the trade is peaking and that is where I entered the short trade.

ROI = 3.15 % in 5 days


Update - Sept 27th

This is meant to be a very short term trade.

Since I got 75% of the targeted profit in 1 day, I decide to close the trade instead of waiting another 4 days.

BTC 500 shares 46.4
BTC Sept 51 SP for 5.05