Today ZEGA’s traders uncovered an opportunity to add additional premium by selling the other side of our existing short put spread. By selling a short call spread above the market, we’ve brought in an extra potential profit of 1%, while joining the existing expiration date of August 19th.
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.
After much speculation, its confirmed, we officially entered a bear market closing below 20% from the January 3rd top earlier this year.
With the short put spread resting 23% above (out of the money) the respite from the selloff has been a welcome site for the strategy.
Today the ZEGA team rolled forward and down (further out of the money) the primary HiPOS Conservative trade.
Despite the recent drops, our primary HiPOS conservative trade remains right around 10% out of the money.