Options trade : Ultra-VIX ETF (UVXY) bullish trade

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3/30/2022

sell -2 April 29, 2022 $11 put at $0.80 (prob ITM 39%)

buy +2 April 29, 2022 $6 put at $0.01 (prob ITM 0.92%)

• net credit:  $0.79
• UVXY = $12.47
• oversold
• 30 DTE

4/13/2022

buy back the $11 short puts at $0.07 to remove the risk

let the long $6 puts expire

NET PROFIT:  $140.04

Options trade : Ultra-VIX ETF (UVXY) bullish trade

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Wed. 3/30/2022

sell -2 April 29, 2022 $11 puts at $0.80 (probability ITM 39%)

buy +2 April 29, 2022 $6 puts at $0.01 (probability ITM 0.92%)

• net credit:  $0.79
• margin:  $498
• UVXY = $12.48 (+0.13)
• oversold
• 30 DTE

Wed. 4/13/2022

buy back both short puts ($11 strike) at $0.07

let long puts expire

NET PROFIT:  $140.04 (in 14 days)

Reasons for closing the trade:

We've achieved our goal of 50% of "max profit"