VXX is approaching a Repeat Short-Term Buy Signal above $41.80. The VXX trade from Jun 9th is technically still open and up about 250%. The July $33C that was purchased at $3.00 is trading up to $10.00. If this Repeat Buy is triggered it will present an opportunity to roll-up into a new further out strike better leveraged to a move higher in VXX over the next few weeks. An alternative profit-taking strategy would be to exit the original VXX trade now and wait for this second trade to trigger before going back in. Repeat VXX Buy Signal Pending: On an hourly VXX print above $41.80 (currently $40.10). Option: July 17th $50C (currently $3.75-3.80).
