MomentumOptions.com Profit Alert (VXX) for 2/23/2023

5:25pm (EST)

I have a Profit Alert this afternoon as VXX faded into the closing bell after the market reversed course to close higher across the board. This is one of the reasons we LOVE Stop Limits as it makes trading less emotional.

Profit Alert!

S&P VIX Short-Term Futures (VXX, $11.79, down $0.43)

VXX March 13 calls (VXX230317C00013000, $0.47, down $0.23)

Entry Price: $0.60 (2/17/2023)
Exit Target: $1.20
Return: 3%
Stop Target: 62 cents (Stop Limit)

Action: The Stop Limit at 62 cents tripped late this afternoon so we are out of the trade…for now. The calls traded in a range of 47 to 72 cents. We will keep VXX on our Watch List and could reenter the position with April calls on a close back above the $12 level.

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