Another one coming in hot

I admit, I can't resist creating my own money. I like writing the check to myself and letting other people sign it. Sign it over to me, please.

Last week, started a UVXY credit spread comprised of calls sold at the 32 strike and calls bought at the 33.50 strike. After all, what if my idea is a bad one and I'll end up being the one writing the check to someone else?  Gotta limit the damage; thus the 33.50 calls.

What will happen tomorrow?  I don't know, but my record is good.  See this post and this post for rundowns of last year's adventures in serial credit spread transactions.  This is only a supplemental strategy in my portfolio. I'm not even having the best month possible, but it could be worse, so I'm not complaining too much. (Moved to a new account in June, thus the lack of May data.)

Slow and steady and repeated proven strategies wins the race. Is there a chance of reversal of fortune and erosion of my gains due to the relatively risky trades I am making?  Sure - in fact, I go in with high odds stacked against me, assuming I were trading a random no-bias upward or downward instrument. Understanding the underlying security is responsible for my repeated, reliable (over longer if not shorter time periods) and continuing positive growth.

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