BY ANDREW GIOVINAZZI
May 22, 2024
Yo Pit Crazies,
3 weeks ago if the Iranian President mysteriously crashed his helicopter, stocks would swoon and folks would be worrying about the next crisis. Tuesday VIX was down to the lowest close of the year, 11.94 as I write this. Traders really only care about 1 thing right now. That is Nvidia Corp (Ticker: NVDA). Since they are waiting, nothing is moving.
Mark’s Proshare Ultra Short Term VIX futures ETF (Ticker: UVXY) trade is looking good as we rolled a 70%+ gain out to July for a house money roll. Note I circled the Jul expiration date in UVXY on the Edge Hunter Vol Dashboard above.
That is part of the magic of Weekly Profit Cycles
When nothing is moving, something else is moving.
The VIX futures are always moving
How does UVXY keep collapsing when folks are waiting for NVDA earnings? UVXY owns a decaying asset. That asset keeps losing value in the VIX futures so puts we own can still pay some bills on slow days.
Weekly Profit Cycles ones VIX puts which acts similarly to UVXY puts. They help pay the bills on slow days. Sign up today and don’t miss my NVDA trade special this afternoon.
To Your Trading Success,
-AG
Andrew Giovinazzi
30-Year Trading Pro
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CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain