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I'm doing a similar thing. I've just been buying ATM vix calls when we drop around 25, and selling 30/32.5 call verts when we go above 30. Backtest it if you want. It's been easy money. I just don't like to hold with less than 2 weeks to expiration, but in the worst case i've been able to roll...

That's pretty funny. I was probably the sucker selling the IC's to you, lol. Gimmie a couple bucks back. Do-over! Anyway i gave up on selling IC's for a while. I was always afraid to play with the vix but i think it is the most consistant opportunity these days. you can almost count on 10%...

I got creamed too, mostly selling OEX iron condors. I have the same story as you, a good few years and then not so good. Lately I've been making good money off the vix instead. maybe i'll recover my losses. i hope. ha

Do you buy it? Is this the cause of commodity prices falling (without stock gains) I'm thinking that could be pretty bad. Hmm....

I've traded both. Spy advantage is tight bid ask spreads, but I get creamed on commissions due to low price. I was selling iron condors on OEX with much better results but lately I've been getting creamed. Now I just scalp the vix. It's the only thing I don't seem to screw up. Unless you get...

Bernanke is like Homer Simpson in the power plant control room. Just assume he'll hit the biggest red button when an alarm goes off.

Cheers my friend. I'll be in good 'ol brooklyn NY. Maybe if i cup my hand to my ear I can hear cries of despair from wall st. Whatever. I'm not going to let a few dollars ruin the best day of the year. Plus losing large amounts of money makes you feel so damn alive. Invigorating!

My $VIX trade is up shits creek too. I'm short Apr 30 calls, covered at 37.5. Luckily I have another month to hope I see a price that lets me roll to may. Cheers deberliner, doesn't losing large sums of money make you feel so alive!

Im short $VIX Apr 30 calls, covered at 37.5. Looks like I'll be rolling away for losses the next few months..... Oh St. Patrick, afford thee at least one guinness pint with shamrock froth.

This is insane. Does anyone honestly have a clue how the market will react to this? I would not be surprised to see +1000 or -1000 dow tomorrow. I have no idea what to expect. Jesus it's sunday night, I just wanted to check my email.....

The way I've been trading lately I'm surprised I didn't write those puts. How come no one admits to loosing on these boards? Surely I'm not the only one who took a shot this year... Anyway I hope some of you were on the right side of that mess. Would have made about 2000% in one day if...

I'm all vix lately. liquid and big swings. just roll or get rid of them if 2 weeks or less to exp.

Anyone here trading vix options. I've been making good trades (about the only good trades lately) and am curious what other people have been doing. People say you have to be aggressive and even crazy to trade the vix but to me it has been the easiest thing to trade. I've been writing calls for...