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I will start looking at them. I've always viewed them as not a one day play type instrument other than a hedge. I will start looking at their structure. I've started trading expiration intraday flies in SPX on Mon Wed and FRI using putting them on around 1:00 PM and exiting around 2:45 CST.

Week 28 Update Flies opened on Thursday 8/5 for 8/6 expiration BIDU 5:10:5 162.5-170-177.5 call bot @ $3.06 CRWD 3:6:3 250-260-270 put bot @ $4.55 GME 1:2:1 140-170-200 call bot @ $12.51 NFLX 4:8:4 520-530-540 call bot @ $4.00 NIO 8:16:8 42-45-48 put bot @ $1.90 PYPL sold 8 275-280-285...

I'd second what @BMK has said. Early assignment on a spread is not that big of a deal provided you know how to execute a covered stock order. Your full risk is still the spread width minus the credit received for the bull put spread. If you are trading a small account and can't handle the...

Subbed looking forward to following this.

Week 27 - Totals Flies AMD 4:8:4 94-100-106 puts bot @ $1.86 sold @ $0.80 - $424 BLNK 7:13:7 33-37-41 calls bot @ $1.50 sold @ $1.95 + $315 CHWY 5:10:5 85-90-85 calls bot @ $2.10 sold @ $0.75 -$685 CRWD 2:4:2 255-265-275 calls bot @ $4.60 $ $1.50 -$620 FB 3:6:3 337.5 - 350-362.5 puts bot @...

Week 27 Update New income trades placed and exited before fly set up on Thursday Sold 1 AMZN 33200-4100 Strangle @ 11.30 bot @ 5.60 + $570 2 SPX Calendars total profit + $50 20 put Iron Flies multiple +$120 Flies AMD 4:8:4 94-100-106 puts bot @ $1.86 BLNK 7:13:7 33-37-41 calls bot @ $1.50...

I think the opening margin for the AMZN strangle was $37,000 when I opened the trade.

Tesla rep promised me within 18 months. After using the self driving I think it will be longer.

A thought tied to this discussion is the emergence of autonomous vehicles. When the technology is there sooner or rather than later car ownership in general will fall. Why own a car when 95% of the time it is parked? I think we'll need less cars as ordering a driverless uber on your phone...

Executed the following 5 Delta Strangle in AMZN Opened on Monday 3320-4100 sold at 11.30 bought in today at 5.60 for a $570 winner. Went against me Monday on the sell off to around 13.00 but then collapsed over next couple of days. Wanted to be out by earnings. Had a similar 5 delta...

Just joking. I could never harm "Butters". She's an angel.

@ffs1001 Thanks for these thoughtful comments. I plan to be out of AMZN pretty quickly ahead of expiration and then you're right looking at the pricing after earnings will be interesting. In general I'm looking at AMZN as it is a high priced SN. The Iron Flies have worked for me as long as...

i believe i will. Need to check earnings though and the date on that. I'd like to be out of it before earnings.

Week 26 - Totals ABND sold 15 137-140-143 Iron Flies @ $1.70 bot @ $`1.55 + $225 COIN 3:6:3 220-235-250 calls bot @ $6.80 sold @ $4.27 - $759 DASH 8:16:8 180-190-200 calls bot @ $2.92 sold @ $3.50 +$464 MRNA 3:6:3 280-305-330 puts bot @ $7.82 sold @ $2.13 -$1707 NFLX 5:10:5 485-500-515 puts...

Looking forward to the return. Cheers!

curious what the results would be with a 5 delta strangle?

All tied to the debit paid. Trying to keep each fly between 2000 to 2500 of risk capital so around 25 k at risk week to week or around 7.5-8%. The larger flies when you multiply the number of contracts by the debit all come out about the same. Some a little more some a little less.

Week 26 - Update Positions added for Friday 7/23 expiration ABND sold 15 137-140-143 Iron Flies @ $1.70 COIN 3:6:3 220-235-250 calls bot @ $6.80 DASH 8:16:8 180-190-200 calls bot @ $2.92 MRNA 3:6:3 280-305-330 puts bot @ $7.82 NFLX 5:10:5 485-500-515 puts bot @ $4.93 ROKU 4:8:4 415-430-445...

Week 26 midweek update As I've been sitting in cash the majority of the time I've been thinking of what strategies could I put on early in the week to help generate some alpha. I've decided for the time being to implement three on a weekly basis: Broken Wing 16 delta SPX put fly w roll up of...