Anyone trading the VIX?

Quote from rallymode:

You sold index vol. Not the end of the world as long as its what you intended to do. The edge has gotten so wide it's insanity to trade vix derivs at the moment, and thats from someone who trades nothing else. FYI, the front month futures switch was inverted 4 handles earlier.

Be careful out there and dont trust TOS vix risk profiles. I give you 3:1 odds you lose money on this trade at unbounded risk.
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Wait a minute. It just said 4:1 odds, now 3:1. Next edit - 50:50??
 
Quote from rallymode:

time drift lol
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You joke about it, but this is the exact reason that trading VIX is so tricky. To someone unfamiliar with VIX movement there is absolutely no way to determine the PoP on his position.

Last year when VIX was at a natural floor, it was really easy to make money. Now it is crazy.
 
Quote from rallymode:


Be careful out there and dont trust TOS vix risk profiles. I give you 3:1 odds you lose money on this trade at unbounded risk.
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Only 3:1 ? LOL , I will pass. There is a guy on ET that offers 100:1 bets like there is no tomorrow.
:)
 
Quote from Cache Landing:


Last year when VIX was at a natural floor, it was really easy to make money. Now it is crazy.
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Yeah i remember selling those 2:1 put verticals like there is no tomorrow. Good times.
 
i trade the options fairly actively. short august calls at strikes of 21, 27.5, and 35. bought back aug. calls with a strike of 30 on friday for a decent loss. probably take some more off next week, but losses are offsetting some of the gains from a fairly large es/ym short position and long atm/itm puts on es/ym/spi. but vix in the mid 30's to 40's next week will suck for me
 
Quote from rallymode:

You sold index vol. Not the end of the world as long as its what you intended to do. The edge has gotten so wide it's insanity to trade vix derivs at the moment, and thats from someone who trades nothing else. FYI, the front month futures switch was inverted 4 handles earlier.

Be careful out there and dont trust TOS vix risk profiles. I give you 3:1 odds you lose money on this trade at unbounded risk.
More...

Got out today for +$30 - $6 commissions.

What do I win?
 
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