VIX6 – SPX Trade Update #5

Market Context
Good day Insiders,

This trade that was placed on February 7th seems to be one of those that can be called a bad egg. We have had to make continuous adjustments in wiggling with the ins and outs of the trade as this market has been in a nonstop vertical blast off. Though now we seem to be heading into further consolidation, which can mean one of two things, either we are going to be seeing sideways price action or the return of volatility. It is with this in mind that we are going to execute the following adjustment and buy a bit more time to be right.
The Trade
Rolling our puts to April 1st and up 30 S&P points to the 2735-2715 spread bode well for us, if we see volatility return.

Risk & Reward
This adjustment will require a bit of cash, but with price action moving the way it is, and the fact that we have not closed above bullish levels gives us a decent probability of being right.