Winner 1: Dennis
VXX 20/24/25 AUG for a credit of $1.75
I like this trade because it is a credit, and it is bullish. Would have liked a bit more bullish for sure though
Winner 2: Everett
My submission is $27-$32 VXX bull call spread limit of $.50, if/when the $27-$37 bear call spread sells for greater than $2.4 sell half the $27 calls and buy the same number of $37 calls(spread limit $2.4) forming at $27-$32-$37 call butterfly.
I like this trade because it starts out cheap, and has a top to bottom plan.
There were several traders that were attempting to mimic the AAPL trade from a few days ago. I will explain Monday why that trade does not work in this specific case. Here is a hint though; you have to know the product.
It was a great first full week of Option Pit, doing all the activities. We have had a few really good Pit Reports, both condensed in the AM and full ones at the Mid-day.
Winners, I have your emails, I’ll get you signed up to Expiring Monthly. We got a lot of good submissions, keep those ideas coming. Your ideas generate better content here! I hope everyone has a great weekend!
