Today with the market retracement and pop in volatility, ZEGA’s traders entered a short put spread that was added to the existing short call spread in HiPOS Conservative accounts.
Today ZEGA’s traders put on a new HiPOS Conservative trade for an August 19th expiration. We’ve been noting how the VIX has remained elevated for some time.
Today our primary conservative HIPOS trade will expire worthless. That is good news since we’ll realize a full profit on positions. This trade was a little different in that we rolled forward to take advantage of the volatility increasing our profit target while extending the original expiration out as well.
As the markets march towards the close today, all the indexes have retraced after some green shoots the last two days. For our primary HiPOS trade the news isn’t all bad though.
While markets have pushed lower, the NDX still remains about 15% above the short put strike of 10300. After the close today, the trade will have 14 trading days left until expiration day.
Listen to the ZEGA team discuss recent market conditions and how ZEGA's strategies are performing