Short volatility via XIV. Unloaded a portion of my position near the close. Those shares were picked up in late Feb at wave ii. I'd entered an overweight position (~50% over my regular allocation) yesterday just prior to wave iv, so didn't want to hold too heavy into the weekend. Vol had been trading in corrective moves recently, and there's a chance today's rally was a b-wave of B as depicted. IF the rally completes an impulse into v of 3, then I'll take profit around mid-23s / 24 and build up another long in wave 4 support, likely low 21s again.
Stop indicated with bold red line at 20.61.
Stop indicated with bold red line at 20.61.