Honestly shorting volatility has been a great move since 2009 but by the time volatility was near record lows below 10, I think sensible people should have covered. Also xiv was always a shit instrument and there were much better ways to make that play.
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Replying to @HbdNrx
On Friday January 26, I did something I'd never done before and bought a whole bunch of put options to hedge my entire portfolio... On Wednesday January 30, I thought "I'm a genius" and sold that hedge for a 40% profit... then proceeded to buy a bunch of call options...
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