Ate Some Popcorn & Cashed In My Profits

Aug 28, 2017
J. Webster
Comments Off on Ate Some Popcorn & Cashed In My Profits

I’m kind of thinking maybe it’s time to go long the $VIX. Especially after reading this article in the NY Times. I also don’t know why a trader would want to be featured in the paper about making money shorting the $VIX, especially if he’s making millions of dollars. I don’t think you want that much attention, do you? But what sticks out is how seemingly confident the former Target logistics manager is about shorting the $VIX and not worrying about volatility:

It has been a lucrative strategy as the so-called fear gauge has been, outside of the occasional spike, largely fearless — confounding experts by sloping persistently downward and in the process making Mr. Golden a multimillionaire.

“There has been a lot of white noise,” said Mr. Golden last Tuesday on a day that the VIX plummeted more than 10 percent, allowing him to lock in profits from short trades. “You had North Korea, Afghanistan, Trump people resigning. But I was never nervous — so today I just sat back, ate some popcorn and cashed in my profits.”

I’m guessing that maybe it’d be good to do another story on this trader, in say six months or a year. Who knows though, if he’s making millions of dollars shorting $VIX related stocks, he might have some magically strategy that he can rely on. However, taking into account who’s the current president right now, I’d bet there’s more volatility coming.

Will this trader turn and go long the $VIX….

Related Posts Plugin for WordPress, Blogger...

Comments are closed.