This was opened Friday... as a speculative position as most anything that is not with the big picture trend should be in my view, but this does fit with what was seen late Friday in the averages, there hasn't been anything but mush this morning except here in the VIX futures and VXX, I believe this may be a VERY short trade, remember I considered this move to be "Noise" Friday, but for those who are nimble enough it may be worth a look.
Intraday VIX Futures keep gaining more ground on a leading positive divergence in a flat area.
The 2 and 3 min charts of VXX above and below have not confirmed any downside, but rather are leading positive even further.
However, the charts don't go much beyond 3 min at this point so I would not consider this a very long position/trade.
I think UVXY could be used as an equity play rather than options, I'd try to keep it speculative, although I will add a bit as it fits with Friday's analysis and is the only thing this morning so far showing any backbone.
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