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You had my sympathy initially but it seems you haven't learnt your lesson. You've just taken the trade recommendation of yet another anonymous moderator on an Internet forum. Who are you going to blame this time if his advice turns out to be incorrect?

"As we know, There are known knowns. There are things we know we know. We also know There are known unknowns. That is to say We know there are some things We do not know. But there are also unknown unknowns, The ones we don't know We don't know." Donald Rumsfeld, Feb. 12, 2002...

Typo. It's synthetically equivalent to a 1370/1365 OTM PUT debit spread for circa $1.90. Possibly better fills on the OTM debit spread. Short THETA. MoMoney.

Be mindful of the fact that the respondents are not all necessarily singing with the same voice. There are very distinct and different approaches advocated by the various contributors on this thread. Continue reading the rest of the journal and it should become clear. A couple of weekends...

What's a hedge fund? :D

I'm just speculating, but perhaps you're not familiar with the much less ulcer inducing risk/reward characteristics of a closer to the money vertical compared to those further out? Getting burned big time is not a necessary eventuality even with an adverse move in the underlying, especially...

LMAO. That's too funny how we both picked out almost identical phrases! TrendSailor is going to think we are picking on him....:D

Interesting comments within your post. Some ideas to mitigate being "scared out of" a position. 1) Position size, as discussed 2) More favorable risk/reward. Good luck with your journey TrendSailor! Your posts are nearly as long as mine when I first joined ET :) I'd like to reiterate my...

If your methodology is successful then there are possible merits to leveraging options to capitalize on it. You touched upon the some of the hurdles that need to be tackled. Slippage can be quite severe but choosing an appropriate instrument and the introduction of penny quotes et al could...

I'm guessing a large set of....balls, cullions, family jewels, gonads, genitals, nuts, rocks, testicles....

Also on the Analysis tab :)

For single options, VEGA and THETA have opposite signs. THETA is also basically the inverse of GAMMA so, positive VEGA comes along with positive GAMMA and negative THETA. As time passes VEGA magnitude declines and at the same time GAMMA/THETA magnitude increases. For simplification purposes...

Essentially, by convention you're not really meant to post on this thread unless it is off-topic. Do not under any circumstances use the Options Forum to discuss general option topics. Instead, post them here. You can occasionally post something pertaining to credit spreads on the SPX if you...

Fair enough. There are some interesting things to look at when an IV spike occurs that is not related to earnings or other scheduled event. e.g. what happens to tenor skew. Which months benefit the most. What happens to the smile. If it's a level dependent volatility spike, the implications this...

Hello. Welcome to the most longestest thread on ET ever. Bad luck on your recent losses. With respect to statistics and doubling down and/or not losing a few times in a row, perhaps you'l like to cast your eye over this: Gambler's fallacy Of course, the argument is that the market is not...

It seems you might be catching on that not all trades need to be done for a credit... To be clear, your GOOG trade is not earnings related. The December and March volatilities will not really be effected by earnings volatility cycles. It's a pure market neutral long VEGA strategy. Long...

This is a highly contentious topic and has partisanship on par with religious debates. The two main schools of thought are: 1) If you have gains on a position, you can take the profits on the position and bank it. You can then open up a new position which starts from scratch and has zero...

I'm not sure anyone suggested buying the front month straddle 1 week before earnings. Rather, you don't want to be short the front month straddle 1 week before earnings. Normally, you'd want to be long VEGA in advance of 1 week. You want to buy volatility as low as possible and sell high but...

Sometimes it must feel like you get no thanks for all your contributions on ET :D Just a never ending stream of critics taking pot shots at your ideas... I realize there were some earnings oriented combo trades in the journal and by the time the journal was dying of natural causes people...

You guys are nuts! I'm sure Riskarb is turning over in his cyber-grave :D Unless I mis-read, I understand one suggestion is to go short straddle into earnings? IV gets pumped up going into earnings. It's preferable to be long straddle (or other long time VEGA) into earnings. Offset position...