Premiums are too low to take on the weekend risk for a weekly trade.
We were hoping to enter the VXX Weekly Call Credit Spread for the January 12 cycle today. However, in reviewing potential setups I do not see a trade that I feel comfortable recommending. I prefer to place the short strike as close to 2 points away from the price of VXX, which would be to place the short call strike at 28. There is not enough credit to warrant the risk, so rather than suggest a short term trade that is less than desirable, we will pass on entering this play for the week.
I apologize to those who may be anxious for a new trade entry; but it is not worth the weekend risk when we cannot place the short strike far enough out of the money. There is always another week to trade as long as there is money in the trading account.
If something changes this afternoon and a decent trade entry presents itself, I will post an update.
As always, stay keen on your risk management and trade carefully,