Search results

I can see how it dampens the enthusiasm. It doesn't negate the strategy it just makes the returns more worldly than other worldly. I'm going to sell another strangle in Amazon next Monday 5 delta and see if I can make it part of my weekly / monthly trading plan. If I net $400 a week or 2k a...

I show $547 in buying power for the same FCEL trade.

Happy to take a look in my TW account to see what the BP effect is as well if needed.

btw just filled at 4.15 on that AMZN strangle $416 winner. Owe you a beer for the idea.

SN as in single name. The AMZNX GOOG stocks priced as over $1,000 a share.

5 Delta as high value SN. It took 43k in BP bot the POP is 93%. Hopefully closes tomorrow at 50% with my gtc order or I will add a 100 pt fly above the call for protection. Not as worried on the put side with this one.

Sold the 5 Delta Strangle in Amazon on the open at 8.35. 3175-3770 so far so good. GTC order at 4.15 working. At 5.95 at the moment.

Same with puts. If there isn't much value in the short strikes of the belly of the fly and you are playing a directional move it's better to just go long outright the calls or the puts that would make up you ITM or ATM wing. The value of the one day fly is the theta crush of the guts mixed...

It's really both coming into play at once. I'm usually in stocks with good implied volatility otherwise it would be cheaper to just buy calls for the directional move. Thursday to Friday all these factors combine as theta goes to zero and your long call gamma goes full as your long calls are...

I have a journal going called "weekly pin butterfly" that lays out the nuts and bolts of what I do I trade short term Thursday to Friday. I put on an array of butterflies usually ten positions in high dollar or high IV stocks and they are slightly directionally biased on the premise that all...

You could take some of your premium collected and buy cheap OTM put and call flies that are pretty wide below your put and above your call. If you have a runaway stock you could end up with lotto like profits but this would work better on high priced equities like AMZN and you'd need around 40k...

@IlliniTrader last couple of weeks it has worked to just exit pretty early after the opening. The move towards highest OI seems to either happen or it doesn't and waiting around can turn winners into losers. I exited NVDA at a nice win early had I held it would have had a massive sell off.

amen

Thanks for this. It does seem pretty aggressive. I don't know if i could stomach that type of allocation in my account but i'm pretty much a pussy and only trade with about 7% of my capital at risk each week. I'm looking for some type of premium selling strategy. Undefined risk worries me...

Interesting stuff and thanks for sharing. I do believe these premium selling strategies can have a profitable track run but am always worried that long term it's like picking up nickels in front of a steam roller. What's your exit when something goes wsb reddit against your short call and...

@ffs1001 Agreed. Putting the input from others on this board - yourself included - has helped refine the strategy. Ditching the hedge has helped immensely.

Week 25 totals / update BYND 3:6:3 105-120-135 put bot @ $6.80 sold @ $7.50 +$210 CVNA 3:6:3 285-300-315 put bot @ $5.41 sold @ $1.81 -$1,080 DASH 3:6:3 165-180-205 call bot @ $6.85 sold @ $7.99 +$342 MRNA 2:4:2 230-250-270 put bot @ $7.90 sold @ $3.04 -$972 NFLX 3:6:3 535-560-585 call bot @...

Week 25 Update Entered today for tomorrow's expiration: BYND 3:6:3 105-120-135 put bot @ $6.80 CVNA 3:6:3 285-300-315 put bot @ $5.41 DASH 3:6:3 165-180-205 call bot @ $6.85 MRNA 2:4:2 230-250-270 put bot @ $7.90 NFLX 3:6:3 535-560-585 call bot @ $6.95 NVAX 4:8:4 172.5-192.5-212.5...

Week 24 - Totals Today's closing trades from yesterday's experiment with the broken wing flies. AMZN 10:20:10 3610-3600-3580 bw put fly bot @ cr $0.40 bot in $0.15 + $250 TSLA 10:20:10 602.5-607.5-610 bw put fly bot @ cr $0.17 rolled up wing for .04 +$130 Opened Today for Expiration Tomorrow...

Week 24 - Update Today's closing trades from yesterday's experiment with the broken wing flies. AMZN 10:20:10 3610-3600-3580 bw put fly bot @ cr $0.40 bot in $0.15 + $250 TSLA 10:20:10 602.5-607.5-610 bw put fly bot @ cr $0.17 rolled up wing for .04 +$130 Opened Today for Expiration...