What's better than premium? DOUBLE premium

Two scoops, please. That's what UVXYTrader (@michaellistman) said this morning when he got a scoop of put premium and a scoop of call premium on his ice cream cone. With UVXY trading at approximately 21.90, he brought in 86 cents of premium per contract on some puts for the 21 strike expiring this Friday and 1.77 per contract on the associated calls, all of which he sold short.  Let's see what happens for the rest of the week and how this trade comes to a close through some method or another.  2.63 (or $263 considering the type of contract these were) was deposited into his account, per contract (of which the quantity is unknown or let's say, it's not going to be discussed here, at any rate.) 

Later in the week we will discuss the eventual resolution of this contract, wishing the best possible outcome for UVXYTrader.

Follow me on Twitter: @grapeswhiz

Math Wins

While "Math Wins" (AKA "Let's Move Money") is looking for $UVXY to rip, I'm always looking for it to slip.

Here's my math for today:

While thieves are looting from one door of your business, as long as you are ringing the register to a greater degree at the other door, you can close up shop at the end of the day and count your profits.

Follow me on Twitter: @grapeswhiz

That's a fast steamroller

It may not have been me, but I feel quite sure that some people picked up more than pennies today (and that others came out "flat," and by that I don't mean no profit or loss - I mean what the steamroller does to you.)

Below I get schooled by a 15-year-old hedge fund manager:

Who has stories today about surviving (or not) the VIX carnage?

Follow me on Twitter: @grapeswhiz

grapes trades on

Party on, Wayne. Party on, Garth. Trade on, grapes. 

Watch this space to see if and what I feel like talking about. Let's talk first about the conversation I see tonight on Twitter.

This man, who goes by the name of "Bat," if I remember correctly, has expressed his observation that the VIX is acting in an uncharacteristic manner this afternoon. Fellow trader with a cat for an avatar postulates that the Fed will be the arbiter of which way the horse manure drops when it does. Plop, plop, plop - VIX will do the drop, drop, drop. Let's all crowd around (at a safe distance) to see it happen tomorrow.

Follow me on Twitter: @grapeswhiz