UVXY BIG MONEY MOVES?

Submitted by Additional-Fold-1347 t3_zzb3d6 in wallstreetbets

I currently have calls on UVXY expiring February, my plan is to catch a large spike up by the market having a large down turn I believe will happen in January. UVXY has been going down sideways for a long time now, and I believe we have not seen the largest drop yet and the $500 chance to print tens of thousands seems worth it to me. If I am wrong I will buy calls in February that expire in April, I know a large spike up is coming for UVXY in 2003 and if I just catch it once, losing $500 is nothing. This might be smooth brain but i'd rather do this than lottery tickets XD.

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nubface1001 t1_j2aix4m wrote

Lol Is 500 really a yolo?? And yes this is smooth brained as fuk

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Additional-Fold-1347 OP t1_j2ajvpf wrote

Lol yeah YOLO is an exaggeration, i just think the chance even though its low is worth the risk, i can always make that $500 back but for every dollar it goes up past $15 im banking thousands and if we just have a small spike up compared to the large spikes when the market completely died then im making a hefty bag.

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third_legatron t1_j2cegqz wrote

Do you understand how uvxy options work? Based on futures contracts.

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slambooy t1_j2ar0d2 wrote

Won’t see $15 until it reverse splits after it hits $4 in a couple months.

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VisualMod t1_j2aii9b wrote

>I believe that the market will have a large down turn in January, and that UVXY will experience a large spike up as a result. I think this is an opportunity to make tens of thousands of dollars, and so it is worth taking the risk of losing $500 if I am wrong.

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goonievader t1_j2beaqh wrote

Everyone in WSB hates UVXY and most are bulls. Just a fyi anything with UVXY is gonna get Hated on

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Additional-Fold-1347 OP t1_j2bei75 wrote

Yeah I expected some hate , but inverse wsb is the move sometimes so I decided why not inverse one of the most hated things. If it hits its fat if not what’s $500

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V8sOnly t1_j2coj5z wrote

2003...hold till 2008. Cant possibly go tits-up. I salute you Regard.

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Dothemath2 t1_j2dldq1 wrote

UVXY is a scam, it doesn’t track well. Puts on spy and DIA are better.

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slambooy t1_j2f4ee0 wrote

Lol “it’s a scam”. Clearly you have no idea what UVXY is. Sound like those guys on stock-twits that yell “ManIpUlatiOn!!” Haha y’all are funny. It does exactly what it is supposed to do. Read the prospectus and learn how the instrument actually works. It’s a perpetual short

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slambooy t1_j2aizty wrote

Good luck to you. I have PUTS

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Additional-Fold-1347 OP t1_j2akryq wrote

Thank you, that might be the move lol

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slambooy t1_j2algq3 wrote

Yeah.. just a heads up to turn $500 into tens of thousands you’d need to 20 times UVXY from here. Mathematically impossible. Contango, VIX is already elevated….. plenty have come to play UVXY long and they keep averaging down and lose it all. It’s a decaying asset meant to go down forever. Better off shorting any and all pops. It’s down 48% YTD and the spy is down 25% or something. That was long winded. Have a great new years!

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