Long-dated VXX puts as a strategic short vol position
Michael argued for buying long-dated puts on VXX and selling shorter-dated puts against them, a 'poor man's covered put' strategy to express a strategic short volatility view without the beta slippage of UVXY.
Keep reading this one
You've read the thesis and who argued it. A free account opens the argument, what validates it, the risks the show raised, and the moment in the episode where it was said — 3 ideas in full a day, no card.