Recent content by Singlemalt

Yes sir. Good question on your part, bad detailing on mine.

I'm doing 30 lot asymmetrical out of the money butterflies NOT Iron Condors (the VIX is too low for IC's now) - the margin is $60,000. You have to know how to manage them but some Elite Trader told me that was bananas. I need sleep and the Elite Traders think I'm BS, so have a nice life. I...

Bub Bye destrieo, I gotta life and its not with Elite Traders.

"Sep21 2850/2870/2935/2955 is 7.90 last; risking 12.10. 5D at inception. 30? " Dude, I'm not your coach. You either know and manage by the greeks or you don't. I can concoct a crappy trade for you along with a winner. I have time for you or your pseudo trade. However, I need to get up early...

C'mon. I'm with Elite Traders!!!! A 30 delta spread has a +70% chance of finishing OTM. Managing winners improves those odds. Are you going to tell me that you can't beat that holding to expiration?

Perhaps you missed the 11 winners 1 loser part. And, yes I know you can't verify my experience. Properly managed means following your plan. My plan with IC's is 10% profit and 15% max loss targets (less than 15% loss is OK). Rolling the wing when the deltas of the short strike double.

10% profit, 15% loss, on margin.

OK, all the "Elite Traders" come attack the new guy who has a spine. This is the first place of self proclaimed elite traders I've seen who believe Iron Condors as vodo. A 30 delta spread has a +-70% probability of finishing OTM. 78% isn't far away from somebody out of options 101 with 98F...

"As I understand it, most longer term options expire useless (not being exercised). So my thinking is that traders with larger funds will be hedging forex/futures positions by buying puts or calls as a kind of insurance." Yes, buying puts and calls is like in buying insurance. Selling puts and...

I'm one of those who is very cautious of short strangles, it's why I like Iron Condors. However, I will put on a one or two lot SPY short Strangle each week the VIX is over 14 just because they are very profitable and to acclimate my risk aversion.

A response of "no" to a question of "why" is a non sequitur and my answer is Iron Condors are very profitable if you know what your doing. An Iron Condor is merely a Strangle with wings. Research shows a 30 delta Strangle wins approx 78% of time when managed properly. The results are better if...

"An S&P 500 future option is an American-style option, meaning a long option can be exercised at any time between the time it's purchased through expiration, and its futures settled." https://tickertape.tdameritrade.com/trading/options-futures-15073

Question bepitt: Do you know how to use the Analyze tab in TOS to help with your review of your position?

From April to July I completed 12 IC's and won on 11. You place them when volatility is high and and choose your short strikes wisely. If you choose 5 delta short strikes you'll have a high percentage low payoffs. My dozen were mixed between 10 and 43 DTE at deltas between 13 and 22. The...

I have a 20/40/20 Butterfly spread currently on in the SPX Sep 28 expiry. It filled well because the open interest was good.