Huh? You shorted the guts for LESS than the strike width. It was a guaranteed loser. Something is wrong here. Your fill equates to the natural fly bought at a credit. The guts have to be worth at least 14.00. You shorted it at 12.12. It was worth 14.00 at expiration.
I don't know what you did. Legged, whatever. My point is that if the outside strangle is at pennies then it's probably not worth working either strangle. Where was the outside strangle when you sold the inside? What was the price of the 280P/294C? No way it was worth $7K written. To short that...
lol you shorted the guts. Ostensibly bc you thought the premium was better. It is, but it's equivalent to the 280P/294C outside strangle.
IB is not an educational service, they are a discount broker, and what does it matter? It netted to zero position. You shorted the outside for pennies.
NBBO midpoint -> BSM -> vol-figure. If you need more then you should not be trading vol. More to the point... you obv never have (traded).
Bespoke stuff (interpolation of penny-strikes and sticky-models) is great, but it's all built on (mud) BSM.
Yeah, absurd. I am sitting her at a rest stop and the entire family is holed-up with my sis. I inadvertently escaped so I'll rent a converted Sprinter or whatever for a couple of weeks.
I need the laugh. A relative came to visit and tested + on day three here in NV. We're on lockdown but I was already on the road (solo) to go bikecamping.