Today's post-holiday gap-down created the set-up for our next high-risk: high-reward volatility option trade: UVXY Jun 17th $15C. The UVXY intra-day high was $15.10 and seen in the first 30 minutes of trading. Since then UVXY reversed lower, hitting a low print of $14.20 as this is going out. One of these two moves was a fake-out in front of the real directional thrust into the end of the week. If UVXY makes a new weekly high at any time this week, this Buy is triggered, New Buy Signal Pending: UVXY - on a print above $15.20 Option: Jun 17th $15.00C (1.20-1.25) I am still expecting a UVXY print above $40 this summer, whether it be on this signal or on a subsequent Buy later in June or July. My personal preference is to take each one, albeit with a lower capital allocation to preserve capital until the big one hits.
