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Great answer ... just not to the question being asked Does put-call parity hold for options that can be exercised early where there is a dividend before expiry ... a simple Yes / No answer will do

Robert ... not to be pedantic ... but it was you who, in fact, were suggesting that put-call parity was "absolute" and could be calculated for options with dividends that could be exercised before expiry I suggested exactly the opposite ... that there was no "absolute" when it came to put-call...

So you are effectively saying that put-call parity does not hold for stocks with dividends ...

Thanks for all the analysis ... that's the point I have been trying to make ... that p-c parity does not hold for dividend paying stocks that can be exercised before expiry

If I understand what you are saying ... the 'residual yield rate' forces the call-put vols to line up ... but is really just a number that can cover quite a lot of sins This was really a discussion on whether put-call parity holds for dividend paying stocks with early exercise ... and not...

We seem to be dancing around the issue a little ... what has Ivol got to do with put-call parity ... except by showing there is a difference between call-put Vols ... you seem to be saying by definition that put-call parity does not hold for SPY One final request for you to show the formula...

Robert I would be interested to see your calculation of put-call parity at 150 / 160 / 170 strikes ... However, BYND not a good example of the issue we are discussing ... as BYND has no dividend Why not pick a more generic option that pays dividends before expiry date ... how about SPX ...

Robert I think you have just described why put-call parity doesn't necessarily hold for early-exercise type options with dividends ... manually iterating vols until they match the market maybe the practical solution ... but it ain't a formula for put-call parity Put-Call parity is usually...

Generally early exercise on dividend paying stocks means that ITM calls trade at a minimum of parity with respect to the Spot Price ... As a former MM you may have a 'formula' for put-call parity on American style options ... if so ... what does p-c-p look like for say Stock price $100...

I don't know whether the OP was referring to American / European exercise type options ... but p-c parity does not necessarily hold for American exercise type options ... that allow early exercise

TastyTrade and Karen the SuperFraud ... match made in heaven https://www.tastytrade.com/tt/shows/geeks-on-parade/episodes/trading-for-your-future-with-karen-geeks-2019-07-22-2019 She says with a straight face ... " I do not take much risk ... I rarely lose money"

Mentoring is difficult in the UK for a couple of reasons ... culturally ... we are used to getting 'free' education ... and not having to pay for it ... support infrastructure ... there is almost no software that allows you to generate risk graphs for UK options By the way ... you are right...

Any reason you don't trade options in the USA ... if is so much more advantageous than trading options in the UK ?

The primary purpose of dissecting your position is to identify any particular elements of the position that may be too expensive to be long ( to be sold ) or too cheap to be short ( to be bought ) You can see your condor as ... a series of overlapping flies ... a pair of vertical spreads ... a...

Agreed ... All vertical spreads ( for any expiration ) ... are priced at approx 50% of the strike width ( the extrinsic premium for ITM / OTM strikes offsetting subject to IV skew ) ... with the implied Forward ( or Spot if carry is negligible ) half way between the strikes

Is this a real or theoretical trade ? Not certain a move from 16/16 delta strangle to a 30/10 delta strangle will have generated much profit ( unless there has been a decent pop higher in Vol ) as both options still OTM As previous posts have suggested ... you can reverse engineer the position...

I have done a fair bit of modelling using the Corradu-Su model ( corrected for an error in the original specification ) and have a reasonable understanding of where it is useful and limitations are. If you want to share your spreadsheet, I am happy to see if there is anything I can add ...

You are forgetting Sossy's magic number ... sell Iron Condors for premium 1/3rd the width of the strikes

You can't "invent" something that already exists ... it's a ladder

The "evidence" has mysteriously dis-appeared ... just email them and ask if you can watch the WDIS videos that have been "dis-appeared"