Guess The VXX Closing Price, Win Expiring Monthly Subsciption!
- Posted by Adam Warner
- on June 23rd, 2010
Special offer from the good folks at Expiring Monthly (one of whom is Yours Truly.
As a sincere thank you to subscribers, we are running a contest and offering a valuable prize to one lucky subscriber.
Non-subscribers also are encouraged to enter. It’s a separate contest and the winner receives a one-year paid subscription to Expiring Monthly.
It’s easy to enter.
1) Send an e-mail to: VXX@expiringmonthly.com.
2) Include your prediction for the Jul 16, 2010 closing price for VXX, the iPath S&P 500 VIX Short-Term Futures ETN.
Entry deadline: Midnight (CT) Saturday, Jul 3, 2010
Prizes awarded to the subscriber and non-subscriber who are nearest to the closing price. In case of ties, the earliest entry wins.
The winner is determined by distance from the correct answer. It does not matter whether your guess is over or under the actual closing price.
The Prize: IVolatility.com is generously offering a three-month subscription to the ‘Volatility Essentials’ Package. Retail value $96.80 per month (although occasionally they do make special offers, such as the one advertised in this month’s Expiring Monthly).
Six of their most popular analytical and management tools are combined into a new convenient package called “Volatility Essentials.”
The subscription combines data and analysis tools in a single package, increasing the probability of making the best available trade.
“Everything needed to run an option portfolio like a professional”
Included are:
- Vol ranker: quickly find equities with cheap/expensive options
- All important pricing data plus the “Greeks”, skew and volatility surface data
- Live P/L calculator. Automatically updates data for multi- variable risk profiles and simulation analysis
- Maintain updated portfolio with prices, volatility and correlation data
- Historical volatility data, put call ratios, volume, open interest, and volatility charts going back as far as 10 years
- Live calculator automatically updates prices and “Greeks”
A little information about VXX
The iPath S&P 500 VIX Short-Term Futures ETN, VXX began trading Jan 9, 2009. As Bill Luby reports at VIX and More, this product was a hit from its first day, and trading volume has been expanding steadily. The unfortunate news is that most who bought this vehicle (as a long-term investment) were far too early. VXX declined steadily from the beginning. Until one day, it reversed direction
Weekly chart of VXX, since inception (StockCharts.com)
VXX is not designed for investors. It’s a short-term trading vehicle because it is re-balanced daily to keep the portfolio invested in futures with an average expiration 30 days in the future. That involves daily trading expenses and slippage.
iPath, the company that manages VXX, tries to explain the important details. The sad fact is that too many individual traders buy and sell this item without understanding what they are trading. That’s nothing new, as it has been a way of life for VIX option traders. (VIX options DO NOT track the daily VIX – they are options on VIX futures contracts.
Join the fun.
Enter the contest.
Thank you for subscribing.
Adam, Bill, Jared, and the two Marks
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Adam Warner is the author of Options Volatility Trading: Strategies for Profiting from Market Swings, released in October 2009 from McGraw Hill. (More) 
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