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There were supposedly a few future magazines featuring him but I do not know his name so I can not find them.

I was not aware. Which is the chapter on him?

But if you think the underlying will move then a butterfly is not the best strategy to deploy. He trades butterflies to short vol. That's his primary idea. Then I guess he throws a bit of direction on it. So maybe my questions should be where does he get his directional bias from??

Hey Des, I am not battling you at all. Infact I have read all of your journals and find them very insightful. Your strategy is very simple and I would like to create a similar strategy. Some questions I have for you : Why do you create flies directional and not have the short strike where you...

@destriero hope you can drop by this thread

I have read them but they still dont answer the questions I have. When I try to look at his profile to read his threads it says the user only allows certain people to access his account

Can someone comment on Atticus strategy? I mean is it possible to run up a an account trading solely butterflies with no delta hedging in this day in age?

Most of your PnL on a butterfly is from volga (how each of your strikes move with respect to the change in vega). Kurtosis means very fat tails. So when you put on a proper butterfly you are selling expensive ATM vol and hopefully buying cheap wings relative to the realized distribution

Hey Bob I know you have alot of experience and I'm curious to know what your philosophy is.

I am currently reading his journals and his strategy seems reasonably simple. Buy 121/132 flies on vol spikes cover the position at around 20 % gain. Cut the losers when they exit the body (no hedging with underlying). It also seems he only traded 5 stocks/indexes. He also posted some nice...

Here is a simple way to see how YOU care about IV. If the options are priced to much you won't take the trade. Which means if IV is to high you won't take the trade. It's such a simple concept I'm not to sure why you are arguing about it. That's fine that you use options to capitalize on the...

I'm just trying to help you out here bud. You need to care about IV when you are trading options. Because you are not ALWAYS right on direction so you need to know what happens when your wrong.

The "directional" trader 100% cares about IV. How is he supposed to measure his risk reward??? Let's say the "directional" trader is expecting a 10 point move in the stock. Implied vol is pricing in a 8 point move. What happens when he is wrong? Where will the straddle be after earnings...

The price you pay is IV based. I still don't understand how you think strangles straddles are directional. Let me explain this in simplelist terms. If you buy a stock because you think it will go up that is directional. You buy it for 100 and sell it for 101 you make money. If you buy...

Closed nflx for 1.60 today. Nice gainer. I put one on JPM and NKE. I think event vol will increase. If your still at work.... G BBTA 1924 <GO>. Switch it from Chart to Table. I'm not to sure legging is worth the .02 cents I might gain. If I do leg a spread, should I first get into the one...

are you cashing out? looks like 100% gain already

It looks to me that the best way to implement a calendar spread is to buy it when you believe you can price a back month event better than the market. It does not have to be a big event like earnings, it can be something much smaller that will only give the back month a few vol points. Does...

Yea I agree some have some pretty wide spreads. However if you sit there you should get filled. At least thats my experience. It can be a challenge getting out tho

TSLA also has a big show coming up in Frankfurt July 21. They will showcasing there new model. Jul 13/27. Looks like a good calendar here. Implied forward vol is 42%. I will be putting an offer in tommorrow

Calendar trade today: NFLX June 29/July 6 382.5 for 1.20. The forward vol for these strikes is 23.9%. Got filled at 1.25. This is very low when I compare the past IV/FV.