Opening New Position: VXX Nov. $15 Calls

This is a VERY speculative trade, likely a day trade and that's why I need the leverage.

I suspect the market will pullback intraday at least some, maybe a gap fill although I don't think that a gap fill is necessary as the gap would be filled eventually on the way back down.

I think you could use UVXY (the 2x leveraged version of VXX and there are numerous other ETNs that are variations). I didn't like the liquidity for the UVXY calls so I'm choosing VXX.

I fully expect this will be closed by the end of today. If you are going to enter this trade (or long UVXY) know that it is very speculative AND MAKE SURE YOU UNDERSTAND WHERE YOU STAND REGARDING REGULATION "T"

For me this position will be about half the size of a normal options or speculative position, it's just for an intraday market pullback.

***To lower risk, you might consider ONLY entering the position if VXX were to make a stop run under intraday lows of  ($15.18) which lowers your risk and gives you a better entry with lower premiums for options (most likely). For UVXY longs, the intraday low would be $35.95.

I don't have the time to watch it for these moves so I'll enter now, I will get some charts up momentarily so you might want to wait and see what they look like, JUST REMEMEBER THIS IS A VERY SHORT TERM PLAY.