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I think that's how LTCM blew up.

It's probably best you stay in the shallow end.

Why you so obsessed with GOOGL? Slow money brah

Added same trade: NDX Jul20 7250/7350/7550 231 iron fly from 101.50 risk (98.50 cr), 2-lot

Bash bros back at it again...just like old times

Doesn't matter. I already made my money.

Closed NDX. I'll update fills soon.

5.00 or less is too cheap for that IMO

NDX fly +25% on debit

Added SPX Jul20/Jul27 2775 put calendar for 5.00

I closed SPX fly for 19.00 risk (31.00 cr). Current marks below. I'd rather hold the NDX here.

Only prudent. Too bad, as they are good trades. Sent you email.

Flip a coin instead. At least you don't have to pay commissions.

Not quite, but professionals are playing an entirely different game. Retail traders typically use options to trade direction in a leveraged, risk-controlled fashion. Pros are either collecting the bid/ask spread and/or capturing vol-edge while managing inventory risk.

Taking a shot with these two: -NDX Jul20 7200/7300/7450 352 fly from 40 risk (40 is reduced to 1-lot equivalent) -SPX Jul20 2750/2775/2825 231 fly from 15 risk (35 cr) I am in the irons in both, included natural fly for illustrative purposes.

You can’t hedge the risk the drives your PnL, doing so would just reduce it. All trades must be exposed to some risk. The point of a hedge is to allow you to stay in the position until your edge is captured. Your trade is binary. If it’s a 50% prob at 1:1, then your avg winner needs to be >= 15.

He’s 6’2” 250 lb...the only Garch he uses is mixed with NO-xplode

Yes you did. Those were the days. It's been too long, how are things brotha?

It's completely firm-dependent. There is no set framework.