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Definitely ran hot this week; some lucky breaks. Opened down again [-10K], not as scary as yesterday though. Pft gets pretty touchy late in the week since my gamma ramps up. My SN's rallied though and index was a nice grind up. Got to collect a lot of the PnL back that the bid on vol cost...

Lol good eye. I’ve used it forever but my wife read some research and is even more into blocking blue light than I am now. Keeps asking me to take the glasses to work. I don’t do that but I did turn the filter up a few notches. I don’t have any serious edges. Just collect known risk premia...

Wow guys. The open was brutal for my PnL, right near some risk limits I have. I almost puked some stuff out at the low but decided to let it go for a bit longer. Helps that I was going to be out for the afternoon and not have to look at it. But if it went the other way hard I would easily be...

Eh, a bit disgruntled that I didn't connect with this sell-off despite trying for a week or two. After Monday gap started to fill I switched heavier to short delta / short gamma, since sentiment was looking so hard to crack. I had the wrong read. Short deltas were helping a lot of the losses...

Marks on a longer term strategy were a little unforgiving today. They'll come back eventually though. Probably close to flat on everything else. I was positioned great yesterday for the closing action today. Took size off though. Still short delta but SPX IV really spiked on my put flies...

Wait until the week is up before making that call haha. If we keep rallying you will see some decent mark-down on my PnL. I was really naive back in 2014. Probably the first 4 years of posts are junk. I wish I could've understood Blotto's advice at the time. He left the board before I...

I'm going to do a week of PnL. dest can vouch that I committed to it before I knew how today's PnL would go :) Closed Friday short with fairly aggressive size (for me). Then felt a bit uneasy about the play all weekend. Glad I at least got a partial pay-out this morning although I was hoping...

Thanks, that makes a lot of sense. I do notice that when vol blows up, long premium seems to carry for a while. The IV doesn’t get high enough fast enough. Seems a little suspicious to blindly buy into vol spikes but I have seen several opportunities arrive and persist for weeks while being...

Is CL one of the primary products you trade? I haven't traded commodity options much at all, but it has still been surprising to see the vol surface get so steep. Can these vol figures >150% of ATM in the 10-20d put strikes really be justified by the distribution of realized vol in times like...

My experience has been that you need some selection alpha on picking which names to sell in order to profit over wing costs in the long-run if you want to buy flies. OTOH, selling the straddle or wings blindly should net slightly positive over time but as was already mentioned, it’s not a very...

I had a 2770 fly for most of the week. +70 back to flat in an instant. Brutal timing. Edit - Was 2 flies marked to +35 each at yday close

Yeah, pure luck to see this a couple hours late haha. Went with wider IC so I wouldn't get dragged short as easily. Less gamma / $ risk though. Going to see how this reacts to 2200; premise still seems good but definitely a touchy spot.

Good stuff. I like getting short vol after the rip, and since AMZN should probably slow down as it reaches ATH. Went with an IC. Miss chatting with you Doobs!

Hi Rob, I'm considering backing down the frequency of some of the trading strategies I manually execute. If for some reason you were completely barred from updating positions more than once a week, how much of a performance degradation would you expect for strategies like yours that target...

Gold vol was pretty lucrative after the gap yesterday. Fading this drop as well; short otm puts against short spot. Probably down about 5% over the past few days. Being a short gamma guy I'll take $ for $ loss against SPX any day. Pretty happy with how this sell-off has been going so far...

I averaged in a couple times last week, let this one go this morning though for something like -15% on debit. I still think we've went up too fast recently considering the macro picture but this sentiment has proved hard to crack. We keep filling the gaps down and if yesterday couldn't change...

I like this; picked up something similar. Seems pretty likely we'll at least take a tester stab back down instead of sailing through ATH

I bought a 5 DTE call instead of a 10 lot of the 21 DTE I wanted to get lol. I was on right strike but the wrong date so it was like 4 delta and I just let it ride. Lucky misclick haha. I’m always butchering orders @_@. The other day was awful, I had a partial fill on a straddle I wanted but...

Nice to hear from a veteran. I've only been actively trading a decent block of capital for 1.5 years now. This is the first time I've seen something I know enough to understand is blatantly wrong and had some clue of what to do about it. Was hard to really press the edge amidst the volatility...

Respectfully disagree. The other month I accidentally bought an SPX call strike I wanted a few weeks earlier than I intended. It cost me like .15 and it finished ITM by $3 or something. Positive convexity is one of the most attractive features of long premium; I don't understand why anyone...