The PRO portfolio is holding the VXX Jan 15th $18C, currently in the red by about 40%, but is up over 50% today. With 11 days until expiration (9 trading days) and with VXX trading at $18.00 this morning, it's a bet on the market volatility trending higher over the next two weeks. Being that the portfolio is so long, and in particularly TSLA (+3.5%) with two call positions, these VXX calls are providing a slight hedge against any two-week market weakness. Doubling up on this hedge, either with the Jan 15th $18C ($1.50), or, going out two extra weeks to the Jan 29th $20C ($1.65) would take the "slight" hedge into a more "moderate" status. Review exposure of your portfolio to a two-week market decline and if appropriate, consider adjusting risk by going long more volatility calls. As for new trades, we could be getting short-term, sells later today in PYPL and/or SQ. Further market weakness could expand that short list. VXX Hourly
