Sold to close VIX 7/20 expiration $32.50 strike calls
Sold 40 contracts of VIX 7/20 expiration $32.50 strike calls at $1.00. This closes the position originally entered yesterday at $0.40. Total return less commission was $2,324.10. Return per share after commission was $0.581.
I viewed this position as an event risk hedge against the Brexit vote. With this vote having gone through, I am not looking for further appreciation. I had to find another way to hedge the portfolio against the potential of a broader market decline, which may open up, given the events of last night.
Obviously, while this was a quick 150% return, it can not begin to make up for the damage done by the Brexit vote. Not the way I hoped to make money.