Robert Weinstein's blog
It was a good and frustrating day all in one. The iPath S&P 500 VIX Short-Term ETN (VXX) have me some more love today. This has been a hugely profitable trade and fade for me for over a week now. It moves higher I cover, and when it moves lower I short puts and or write covered calls. Rinse and repeat.
Apple appeared to have a good day despite its relatively small pull back. I was short a debit spread that was looking like it may not pay off. Today was finally the day the register rang for me and while I left some money on the table the option play cashed out for me. I guess my odds were better than the Mega Millions.
Prices of natural gas futures are trading near a 10 year low after higher supply inventory surprised traders. An exapansion was not unexpected given the recent supply and weather, but what was surprising is the amount of the growth. Supplies are plentiful with storage volumes almost 60% above the 5 year trailing average.