Closing pair trade of long BND vs. short JNK
Sell BND @ $77.21 - realized loss of $2.21 (-2.78%)
Cover JNK @ $99.36 - realized gain of $3.55 (+3.45%)
Total Gain of 0.79%
The VIX is at highs of the day after reversing lower early and that's my sign to reduce gross exposure.
So I'll take my profit on this trade and move on with life.
We will likely see credit spreads widen further - but making about 1% on a fixed-income trade in a week or so is a great gain!
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