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I left IB for the very same reasons.. I was paying 6 bucks per fly,each way.Not all the time,but enough... Im at TOS/Schwab and Im paying close to what Poopster is paying. Trading flys /1x3x2's at at IB numbers was/is prohibitive.

Yeah,that's what every premium seller says right before they go belly up...

Where is the stock trading and how many days till expiration in your proposed? It appears you are talking direction I'm guestimating the Fly has a delta apx < half of the Call,and if dead right on direction,the fly is a loser.. Details please

Adding to CESfx,close it out yourself,and don't worry about pennies.If you are worried about pin risk,you did a great job riding the spread to its max..

Oh boy,I didnt expects this from the guy who thinks BS is BS... Think on terms of percent of spot,not ITM or OTM when it comes to vol. On a simpler note,use your noodle..

hate to see Stoney when hes not stoned :)

As far as I csn tell,you are long stock higher and looking at the 16-22 1x2 for a 1.01 debit. Seems like you are on it... Yes,the combined position can be looked at as a short put financing a vert.. Or a short straddle combined with a long call.

Your spreadsheet inputs look off..very off

Speaking of David Goodboy,I googled him and came across this terribly sad news "Hunter David Goodboy, 23, of Bryn Mawr, PA was born April 9, 2000 to Mary Beth Bogan and David Stanley Goodboy. Hunter tragically passed away Friday, September 29, 2023, after courageously battling bone cancer."

Dont underestimate WXY's power of persuasion..

So you now trade the ES market based on Elliot Wave counts and no Stops?? How's that working for you??

Can you tell us what WXY has taught you?? Mark Brown and WXY appear to have very different methodologies

LOL!!!!!!!!

You are correct!! First one is typically called a ratio,second one a backspread.. Look at you becoming a big dog option guy

Cmon son,the 2 directional trades you have posted have had max drawdowns since entry of 33 and 50 percent.. No decent directional trader sells puts and takes 50 percent beatings after getting assigned..or should I say not for long

Too lazy too figure it out,so can you tell us what strikes tge Vert and BWF is??Judging by your payoff diagram,ild take the Vert over the Fly all day ong.Are you sure those prices are right??

Lost me there

Long stock plus the 1x2?? Easy to calculate, but your risk profile on the downside doesn't resemble a fly..

I though the same thing,but I was wrong.Hes much closer to the smartest dumb guy on the board..He literallly cant figure out simple breakevens on ratio spreads..frightening

Bullshit,and I am not double checking....You should be doing that shit in your head (Difference between strikes,plus credit or minus debit)/ number of net short options