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Thank you, Guru. If VXX does start dropping fast, wouldn't having 4 or 5 times more longs more than make up for the shorts? I would think that the faster the drop, the better. And, it is a larger quantity, but the max loss is just $3k, right? I hope I'm not missing something there. To tell...

Yes, I mentioned that. I won't be going to expiration, though. Just stay in it a couple of days to see what happens, then exit quickly...way before expiration. How to lose then?

I've been studying for years and have finally decided to start trading. I need help, though. It seems as though it is very tough to lose much (if any) money when I find a ratio credit spread that is greater than 3x1 when both legs are OTM and you monitor/exit before the short leg gets ATM...