On October 27, 2014, I recommended a hedged bet with VXX calls and DIA calls heading into the Fed announcement.
Since then, the VXX calls have lost -49%. But we’re continuing to hold on market over-extension. At the same time, though, the DIA December 168 calls have run from $3.15 to $6.45, as of 11:40 am EST today.
That’s a gain of 105% in four days.
Consider selling to close half of the DIA call only to secure the gain.