Recent content by valpak

Thanks for the update! All it matters is that you made more than MM. It's been nice to just read about your trades and adjustment. Are you going to open a thread for you leaps?

What's the latest on the position?

Are you still running with your 65 Puts or you closed down all the positions?

Good luck in whatever you decide. No matter how it worked out, it was interesting and great learning experience.

Does that mean you are putting an end to this thread next month?

Looking at your position, especially the Nov 610/620, it was a good day for you. I am hoping that you will roll the IWM puts which are not that big of a deal.

Any updates?

I don't know what's going on but since last you updated your data, things are clearly not working out for you. Your shorts are hurting you more and more.

With your short being way out of reach, I am trying to figure out your game plan. You can't be short very long time yet you have a long way to go before you can catch up. You are tying to catch up by selling 60 puts and if you are hoping that they expire worthless, your gap keeps getting wider...

Way to go - your best case scenario is close somewhere around 600 or way down to 550. Too high is too bad....right at 570 is not so good either.

It's getting complicated and interesting. You troubles are mounting up and very little room for adjustments. Deviation from your original startegy didn't turn out to be good idea. To make money (or recover fast) you have to increase your Delta i.e. bet by buying some in the money or slightly...

Thanks for the detailed explanation! I understand the first time you bought butterflies but somehow I still don't understand the second adjustment. All I can infer that you were being too cautious and I guess I can't blame you with VIX so high (uncertainty)

I don't understand the logic behind butterfly. If you expect stock to move to that level, you can buy back IWM for cheap anyway than why bother buying butterflies.

Curious to find out how you handled this cycle. Good luck for next one.

You could still move up and benefit...not by much but may be by 50-100 bucks on each contract I listed depending upon how much up you go. I believe 440/450 is safe. You could go up to (50 day EMA - 10 pts) and get more money.