Update on my positions.
My RIMM position has lost reached its max value, with just 2 days to Sept expiration. I tried getting out of the position, but my order wasn't taken even when I placed a bid above the market. An interesting note about my position. I have a put 120/115 spread on RIMM. I sold it for 1.44, so my max lose is 3.56. A funny thing about high volatity is that the spread was trading above 5, which theoretically isn't possible. The spread is 5, so the max value is 5. I put in an order to close out my position at 5.02 and it was never filled. I don't want to have the short side exercised (don't want to pay the expensive exercise fee).
I have a RUT Oct 690/680 put credit spread. On Monday I position was down 100 and the next day it was up 100. On a small position that I sold for 3.38 that is a big move. Today its down 190. The rut was down 4.8% (-34). This is a wild swing. Normally a move above 10 is big.
I'm attaching the VIX
and RSV graphs.
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