VXX Weekly Call Credit Spread for February 9; stop loss hit and position closed.
The weekly VXX Call Credit Spread stop loss was hit this morning, and the position was closed as follows:
- BOUGHT VXX February 9 32 Call, .86 Debit.
- SOLD VXX February 9 37 Call, .31 Credit.
Closing order executed as a single order: BUY " Vertical" .
Net Debit to Close Spread: $.55 (both legs).
Net Credit to Enter Spread (Opened February 1): $.27.
(Loss) of $(28)
This represented 6% of the margin/risk, and the pre-set max loss for the trade.
We will not re-enter a new position today, there is too much volatility to have the weekend risk. Rather, we will move on to next week.
As always, stay keen on your risk management and trade carefully,