Shared by
James_BOWSsim
Oil report came out at 10:30 today. I knew all eyes were on oil since it was around the $30 level, which is a big psychological support level in the market. I longed this short term volatility futures ETF because I knew no matter what happened volatility would be up after the report.
Entered small at first, but added a few more after seeing a healthy pullback to the MA's just prior to the report. I then saw crude oil futures plummet, and I was up a couple hundred. Sold shares when I thought it was overextended. Picture perfect trade for me, it made my day.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-01-13 10:19:19 | UVXY | buy | $37.220 | long |
| 2016-01-13 10:26:12 | UVXY | buy | $36.949 | long |
| 2016-01-13 10:26:13 | UVXY | buy | $36.942 | long |
| 2016-01-13 10:32:18 | UVXY | sell | $37.900 | long |
| 2016-01-13 10:32:29 | UVXY | sell | $37.930 | 0 |
Comments
James_BOWSsim
True, well I figured since the market and oil have been correlating nicely in the new year that it would make a big move if the report was bad. Given the bearish /CL oil futures that day I figured that is what people were expecting out of the report.
*After reading more about UVXY and VIX I realize my fundamental reasoning wasn't entirely correct behind the trade. The gains on this one were largely due to luck. But my technical components were there which is always a plus.
kunal00
good good i like the scale ins
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Nice profit. But UVXY moves based on SPX volatility rather than oil, doesn't it?