Howard Lindzon has been really open and honest on his play with
XIV ... lots of good info and links ... What freaks me
out a bit about this whole saga, is without me being on vacation,
this would have been me ... I've played this countless times over
the past 3-4 yearsm shorting volatility... almost like a carry
trade .... it's actually been a "easy money press"
kinda thing for me ... (and for many others, retail and
institutional as we all know) i've made a REALLY good
amount of money on this, and I admit, I would have probably got
sucked in to this on Monday if I wouldn't have been on vacation the
past two weeks, trying to get synced in on what's going on
... I never played it disproportionately in my
portfolio, but nonetheless, it would have been a total loss
... Lesson learned ... try to dig in further into what i'm
trading and holding overnight ;)
Thanks for this. I am getting tired of being admonished
for not knowing that I "should (have) expected to lose 100%
of your investment between the after-hours session of 4:05pm to
4:45pm)
"The market did what I thought it would do when I bought $XIV at
the close yesterday. We rallied very hard off the lows of last
night and closed at the highs of the day. On any other day in the
history of this product, I would have made a profit selling my
position this afternoon.
I was using the product for exactly the reason it was
created.
I waited patiently over the months and years for a record
explosion in volatility and I believed that the price I was quoted
was real based on the ALREADY record move in the VIX. Not
before."
I know its time to just move on, but I appreciate you posting
those links :)
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The XIV Saga ... good
Posted by mla127 on 7th of Feb 2018 at 09:08 am
The XIV Saga ... good reads
Howard Lindzon has been really open and honest on his play with XIV ... lots of good info and links ... What freaks me out a bit about this whole saga, is without me being on vacation, this would have been me ... I've played this countless times over the past 3-4 yearsm shorting volatility... almost like a carry trade .... it's actually been a "easy money press" kinda thing for me ... (and for many others, retail and institutional as we all know) i've made a REALLY good amount of money on this, and I admit, I would have probably got sucked in to this on Monday if I wouldn't have been on vacation the past two weeks, trying to get synced in on what's going on ... I never played it disproportionately in my portfolio, but nonetheless, it would have been a total loss ... Lesson learned ... try to dig in further into what i'm trading and holding overnight ;)
http://howardlindzon.com/black-swan-day-xiv-titanic/
Credit Suisse to Stop Trading $XIV on February 20th, 2018 — But Don’t Worry — They Didn’t Lose Any Money
http://ibankcoin.com/flyblog/2018/02/06/credit-suisse-stop-trading-xiv-february-20th-2018-dont-worry-didnt-lose-money/#sthash.jrQ10F1B.dpbs
Inside Wall Street's $8 Billion VIX Time Bomb
https://www.bloomberg.com/news/articles/2018-02-06/volatility-inc-inside-wall-street-s-8-billion-vix-time-bomb
Thanks for this. I am
Posted by gezac on 7th of Feb 2018 at 10:21 am
Thanks for this. I am getting tired of being admonished for not knowing that I "should (have) expected to lose 100% of your investment between the after-hours session of 4:05pm to 4:45pm)
"The market did what I thought it would do when I bought $XIV at the close yesterday. We rallied very hard off the lows of last night and closed at the highs of the day. On any other day in the history of this product, I would have made a profit selling my position this afternoon.
I was using the product for exactly the reason it was created.
I waited patiently over the months and years for a record explosion in volatility and I believed that the price I was quoted was real based on the ALREADY record move in the VIX. Not before."
I know its time to just move on, but I appreciate you posting those links :)