As simple as it gets

So, in my last post I asked if anyone wanted to guess what I might do with the SVXY 99 calls expiring today.  That's all I had open at the time - no fancy combination of anything; just one lone set of naked calls (as simple as a trade gets) that would have to either be closed out or allowed to expire. The answer is that I disposed of them on Monday, not wanting to wait five days to earn the last $80 out of that deal, when better deals appeared to be on the horizon.  Here's a graphic of what I did, along with the other crazies who jumped on board to participate in this party.  As you can see, someone got a slightly higher price ($1.39) than I did, and once, just once, I would like the meet the individual(s) responsible so I could... give them a nice handshake and a compliment on their good work.

I held that for only four trading days, and that's not bad - I believe that $837 is best scooped up when you find it that quickly, so scoop it up I did. Some people obviously vacuumed up the last few crumbs, since SVXY hasn't given even a hint of interest in a level like 99 any day this week.

Never one to enjoy a dull moment, I made my moments jaw-clenching this week by writing some UVXY calls that expire on the 17th. Scoring those on Monday mid-afternoon was sweet, but even sweeter were the scores made by those who followed me on Tuesday and got my price by double. How do you think I felt on Tuesday? Worse than the way I feel now, that's all I'll say about it. Yesterday I was feeling pretty good, but today I don't believe I'm completely out of the woods. I like to be ultra-conservative (umm... yes, I know - Ha ha!) when writing contracts on these instruments. I like low stress. I prefer to just watch the money trickle into the account like water flows from a spigot into a bucket. Any sign that the pipe might burst is an unwelcome development. Follow along while this trade "matures" and find out whether the outcome is faucet-bucket-flow or call-the-emergency-night-plumber-for-help.