Have to admit I’ve started following TheLastBearStanding long before I was able to deanonymize (is that the right word?) him.
I’ve read his The Volatility Squeeze posts, didn’t understand much, but couldn’t resist the urge to use my “knowledge”. 😀
So, on January 25, 2022, I’ve bought 1700 shares of VXX ETN for $22.43.
It’s up a bit so far, as you can see on this screenshot:
The thing is, TheLastBearStanding has gone full panic mode today:
Why am I not panicking?
1. I don’t really understand what is going on. Ignorance is a bliss; 😀
2. This is a fake trade in my Practice Account. RBC gives virtual C$100K to anyone to practice and I’ve used half of that to buy VXX. Yes, I’m a chicken to gamble on volatility, especially knowing that long term VXX is going to zero;
3. I’m up 30%+! Woo-hoo!
Let’s see what happens next.
Monkey see, monkey do!
TheLastBearStanding sold his VXX calls, I’ve also sold my fake VXX shares for $31.80 and made some fake money.
Something around 40%, I’ve definitely missed the pop in the morning when it was as high as 70%+ for me.