ITT we discuss trading positions in regards to the Brexit referendum on June 23rd.
I am playing the volatility of the market with $VXX, an ETN which uses short term contracts to match the VIX. The VIX attempts to index the implied volatility of the S&P500.
I bought a vertical call spread with slightly OTM Calls at a strike price of 16 and covering at a strike price of 18. Hopefully I make some bank.
Anyone else playing to volatility or taking forex positions?
>>1309213
After round trip fees I will be risking ~$550 to make a maximum profit of $2000. The contracts expire June 24th.
>>1309213
not knocking the position, that's fine. Implied volatility is a measure in black and shoahs, not VIX. VIX is just explicit volatility.
>>1309276
You are correct.
>>1309213
The "leave" camp is leading in some polls and narrowed the margin in others. I just need some sweet sweet volatility.
After hours, my options are in the money. woooo
It's time to goooooooo Britain.
>>1310277
I agree. This economic union without a political union is bullshit. The people who want Britain to stay have everything riding on the status quo.
>>1309213
Update on my trade.
VIX shot up 10% today. I sold my positions. After fees I netted $289 before taxes on a $500 investment. That's 57.8% in one day before taxes. Say 33% tax rate, netted 38.5% in a day.
Feels good man.
>>1309213
Any stocks you recommend looking into as a result of this 'BREXIT"?
I have a bit of an ignorant question maybe, I have an account in both Switzerland and France, one with euros and the other in francs. Should I transfer some of my cash in euros (larger amount) into my Switzerland account to protect myself from potential euro devaluation, or does it even matter? Should I split even my total assets to cancel any change between francs and euros? I want to do the right thing before the vote but I can't figure out what's the better course of action.
>>1309213
What currency is likely to increase in value in the event that the UK leaves the EU? What currency is likely to decrease in value?
Some lady got killed so now Britain can't exit.
How idiotic is that, that this event should end the discourse on exiting...more important people have died for less
>>1312225
If you don't have at least 150.000€ don't even bother.
Exchange Rate comission will fuck you up. If you really have such big amounts of money ask your bank about it. I guess they will offer you some swaps or options.
