How is Long VXX not Free Money?

[Overnight]

It's very tempting to buy loads of VXX here, this happens only 2 or 3 times a year where you can get VXX while everyone is oblivious to nothing but historical highs day after day after day after day. Then we get those few weeks of fear where the markets suddenly drop 8% in 12 days and everyone is running for the exits wildly all while the vix quietly skyrockets 73% in 4 days and 3 hours. Its going to happen. Its definitely 999999% going to happen. So slowly adding a position in VXX if you want to hedge your risk free long term stocks that only go up day after day after day might be a good time to do so very soon.......

But...What about the Fed's PPP? Hmm?

 

[KCalhoun]

Yes, I'm shorting it.

Good luck with that.. I'm long just a few hundred shares, will scale up especially once VIX > 20 and UVXY >6

 

[maxinger]

How is Long VXX not Free Money?

--->

How is Long AND also Short VXX, not Free Money?

 

[guru]

Good luck with that.. I'm long just a few hundred shares, will scale up especially once VIX > 20 and UVXY >6

Congrats - you've just made a fortune with VXX going from $10 to $40!

 

[Girija]

Good luck with that.. I'm long just a few hundred shares, will scale up especially once VIX > 20 and UVXY >6

Are u still long

 

[KCalhoun]

Are u still long

y and buying 200 more here 4.6 region

 

[guru]

Yes, I'm shorting it.

I just got out of my VXX short (previously I sold 150 January call spreads for $0.80 that I now covered at $0.60, though post-split so the underlying symbol changed from VXX to VXX1 and the 45 strike corresponds to VXX being at $10 at that time):

 

[vijaymishra]

Not an options fan here but yeah been following how it moves and every time the figures prove my decision correct.