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Week 16 Update Final Totals /ZC 690-720-750 call bot @ 4 1/2 cents sold @ 5 3/4 /ZS 1560-1600-1640 call bot @ 5 1/4 cents sold @ 7 3/4 /ZW 750-775-800 call bot @ 3 cents sold @ 3 1/4 BABA 3:6:3 225-235-245 call bot @ $2.17 sold @ $2.54 +$111 CRSP 7:14:7 105-109-113 call bot @ $1.02...

Week 16 Update Still in flies in the grains expiring in 16 DTE these are all moderately profitable with the nice move up so far this week. China's buying weather fucking up planting some short covering need another little spike. /ZC 690-720-750 call bot @ 4 1/2 cents /ZS 1560-1600-1640 call...

congrats on your successful run

Week 16 update Put on a couple call flies in commodities. Longer plays looking to close end of week or at 2x entry. /ZC 690-720-750 call bot @ 4 1/2 cents /ZS 1560-1600-1640 call bot @ 5 1/4 cents /ZW 750-775-800 call bot @ 3 cents

I set them with a directional bias based on the strike with the highest open interest going into expiration. Usually place the first wing ATM or slightly ITM.

Week 15 - Final Updates MRNA 2:4:2 175-190-205 calls bot @ $3.84 sold @ $7.00 + $632 NVDA 1:2:1 605-625-645 calls bot @ $7.04 sold @ $7.00 -$4 DASH 2:4:2 150-165-180 calls bot @ $2.74 sold @ $1.16 -$316 PTON 5 X 96-100-104 iron fly sold@ $2.13 bot @ $1.75 +$190 QS 3:6:3 35-40-45...

Week 15 - Flies Entered 4/29 to exit 4/30 MRNA 2:4:2 175-190-205 calls bot @ $3.84 NVDA 1:2:1 605-625-645 calls bot @ $7.04 DASH 2:4:2 150-165-180 calls bot @ $2.74 PTON 5 X 96-100-104 iron fly sold@ $2.13 QS 3:6:3 35-40-45 calls bot @...

https://www.tastytrade.com/shows/cancel-crash?_sp=0e419fde-e2ef-4d0b-868b-788cfd98ab4d.1619394396725&__hstc=21858660.825b4e05dd451767af7362b7f6b6a80c.1619394379708.1619394379708.1619394379708.1&__hssc=21858660.1.1619394379708&__hsfp=1008882404 A nice documentary on the crash from the team at...

These are all great points. Agreed the premium can get really juicy with some of these high IV fliers. My own style is really built around the effect of gamma scalping and pinning around strikes with high OI on expiration. As the market makers gamma scalp to control their delta risk it often...

I've played around with some /ES straddles on expiration day and have had mixed success with them. I've somewhat abandoned it due to the time it takes to monitor these positions with my day job that often times can leave me unable to look at the screen or check prices for hours on end. Jeff...

so long the ATM straddle and buy the dip sell the rally cancel out the theta? or reverse scalping it?

Interesting thoughts. I've gravitated towards just one day plays in flies expiring sitting in cash 99% of the time. My thoughts are being in cash almost all of the time I should be able to benefit from a corrective move down or a sharp correction. How I would capitalize I'm not sure selling...

I'm in the same boat. going more disciplined narrowing in on my core strategy.

Week 14 Update - Tally Totals ABNB 3:6:3 170-185-200 calls bot @ $2.65 sold @ $5.50 +$975 SPY 3:6:3 403-408-413 puts bot @ $1.18 sold @ $0.29 -$267 AAPL 5:10:5 130-135-140 calls bot @ $1.93 sold @ $2.75 +$410 PTON 8 x 97-100-103 iron fly sold @ $@2.17 bot @ $2.00 +$126 FUTU...

Week 14 - Update Entered the following flies on 4/22 will exit all on expiration day tomorrow ABNB 3:6:3 170-185-200 calls bot @ $2.65 SPY 3:6:3 403-408-413 puts bot @ $1.18 AAPL 5:10:5 130-135-140 calls bot @ $1.93 PTON 8 x 97-100-103 iron fly...

can't win them all I guess...........

sounds like you've got it down. Rinse and repeat with your shorter dated option.

Week 13 - Update Entered all on Thursday 4/15 all exited on 4/16 ETSY 1:2:1 202.5-210-217.5 put bot @ 1.60 sold @ 3.00 +1.40 FUTU 1:2:1 140-145-150 put bot @ 1.75 sold @ 2.04 +0.29 RIOT 1:2:1 45-50-55 call bot @ 1.77 sold $0.19 -1.58 PENN 1:2:1 98-105-112...

I had a couple SPX 0DTE IC earlier in the week worked well and one straddle in /ES that was profitable All wiped by a losing one way bet for scratch in an /ES put overnight. Flies worked this week though.

Thanks for this post. I will say in Augen's Expiration day plays the straddle appeals more to me or the trading around pinning which is what I try to set up with the butterflies. You're right he explains the ratio spread quite a bit. I just don't like anything with the unlimited risk element...