bought June 16th $34/$35 put vertical for $0.46.
I expect that the debt issue to be gone before the end of May or in early June.
My profit will be 0.54/0.46 = 117% if
VXX
is below $34 by expiration.
I expect that the debt issue to be gone before the end of May or in early June.
My profit will be 0.54/0.46 = 117% if
VXX
is below $34 by expiration. 
Today is June 6th, about 2 weeks.