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I don't follow his journal. I'm not going to waste my time. Paper trading can never simulate live trading. It's like preparing for live combat by playing paintball. Once there are real bullets whizzing by your head it's a whole new ballgame.

If you are trading in a paper PM acct, you can do dumb shit

You're holding this through the report?

By "symmetric" you are referring to symmetric strike width (50 wide), not risk profile up/down (which is unbalanced)?

He asked for examples of scans. I provided one that I use. You just wasted time. So, yeah, it's probably a good idea to follow on.

They are the same. So I'm not sure how that applies.

Is that a Fibonacci sequence? How about posting something useful.

+1 No one ever accomplished anything by listening to the naysayers. To the OP; keep asking questions, keep learning, and don't pay attention to clowns like the guy above.

I would like to explain it, but it's way over your head.

I scan for stocks whose IV change (from close) is >7-10%. Assuming price is above $10, avg option volume >2500, and 30-day IV >20%.

I'm thinking of patenting a spread that is short 3 puts and long 1 call. I'm tentatively calling it a "pitch-fork," but that's a working title.

XYZ stock is 100. A "natural" call fly would be 100/110/120 (+1,-2,+1) say it's a 5.00 debit. Say the same put fly is 4.50. Both of these have three legs. The iron fly is 100/110/110/120 (+1 put, -1 put, -1 call, +1 call) is a 4.75 credit (which is 10-4.75=5.25 debit). All of these are...

Sure. What's in a name? A butterfly is 3 calls or puts FYI.

Selling a call and a put of the same strike (straddle) and buying an upside call and downside put (strangle) is commonly referred to as an "iron butterfly". This is synthetically equivalent to a call/put fly.

I used to refer to Bloomberg's economic calendar. Then one day I noticed it was gone. So you know what I did? I went to google and typed in "economic calendar".

I know you understand the derivation. It's for all your minions/spammers.

Of course. I always quote positions in terms of "risk" or max loss (debit). I've been quoting both since I typically trade irons and a lot of people can't grasp that strike-width - credit = debit. Especially if it's a 253 or 352. [reduce to 1-lot risk =width-(credit*0.5)]. So my NDX fly return...

They're both 119.50 iron vs 120.5 nat. I made more $ on the trade than you did, even though you found it first. Sucka!

Out of NDX fly, 117.00 risk (83.00 cr). 117-101.5=15.5*2-lot*100= +$3,100

You make that with your etch a sketch?