Greetings!
Hope you all had a Happy Thanksgiving Break.
On Nov 11, we had initiated a 30/40 Call Spread on VIX for 2.25. As of the close on Friday, VIX was trading at ~ 34.40 and the spread was worth 3.50, up ~ 55%.
Over the weekend, European leaders were exploring more drastic methods to bring Europe’s debt crisis under control. Also, consumers came out in droves, boosting retail sales over the Thanksgiving weekend. The S&P500 E-Mini Futures are trading up ~ 30 points. At market open, I do expect the VIX call spread to still have some decent profit. It might be a good idea to take it off unless you are too long in the market.