TRADE IDEA: VXX LONG

VIX has been smacked pretty hard, but as I said earlier, there's something I don't like between VXX chats and XIV where as the later should be acting much better than it is.

I decided to go with a VXX Aug. 21 (monthly) call with a strike of $16, although UVXY (2x long VXX) is an interesting play or VXX long, it can really move.

I just already have an open UVXY long that I decided to leave open before the bounce, knowing the bounce was likely to come this week.