We took our 14% gain on TVIX from today and rolled the profits into a call option on the a 2X short ETF betting The Dow will go down-with a strike price of 20 that expires 9/17. Our reasoning is that we expect a 10% correction in here. If that does not happen, then we don't lose any capital and we can potentially make a 400% return on our profit. Whether it happens or not is not of concern to us. We have a free lottery ticket (not really but you know what we mean) and are back in 100% cash
Have a great weekend!
