VXX Weekly Call Credit Spread for February 2; stop loss hit and position closed.
The weekly VXX Call Credit Spread stop loss was hit yesterday afternoon, and the position was closed as follows:
- BOUGHT VXX February 2 30.5 Call, .80 Debit.
- SOLD VXX February 2 34.5, .22 Credit.
Closing order executed as a single order: BUY " Vertical" .
Net Debit to Close Spread: $.48 (both legs).
Net Credit to Enter Spread (Opened January 26): $.25.
(Loss) of $(23)
This represented 6% of the margin/risk, and the pre-set max loss for the trade.
As always, stay keen on your risk management and trade carefully,