Love it or hate it, UVXY is certainly a fast mover. UVXY was up 4.53% last Friday night, and in tonight's pre-market it is presently up 3.07%. I am still holding from 23.97 on 27-Aug for a 9.3% paper profit at the moment. The 12 month low is 23.12, and my stop is 'safely' below the 12 month low at a level that will result in only a relatively small loss if the stop does get hit.
It has been up and down a bit in the last 2 weeks, and I have been tempted to sell it a couple times for a modest profit, but I resisted the temptation in anticipation of a sustained move up towards the Fed meeting on Thursday night, then if the Fed wording is suitable, a big increase in UVXY could eventuate. Alternatively, if Yellen stuffs it up again, UVXY could see a big move down again on Thursday night.
I am not sure how to play it as this is my first UVXY trade. However, depending on what happens between now and Thursday night, I will probably move my stop up to relatively close to the action to protect profit on Thursday night.
Kates, are you in UVXY at the moment, and what are your thoughts?
Anybody else have an open position in UVXY, VIXY, VXX, SPXU, etc.?
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