Wall Street Takes a Hit as Rick’s Picks Subscribers Rack Up Sweet Gains

While Wall Street was getting pummeled on Wednesday, Rick’s Picks subscribers had a great day. Many were long put options in QQQ and calls in VXX.  The latter more than quintupled in price over the 0.50 we’d paid for them just a day earlier. As for the puts, we’d nearly given up on them as they wallowed near 0.20, a third of their original cost.  However, by day’s end they were trading at 1.84, giving subscribers an opportunity to more than triple their 0.61 investment. The VXX calls expire on June 2, the puts a week from Friday, so there will be an opportunity to profit even more if stocks continue to fall.