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Elite Traders have losses??

Read "Best loser wins"

UMMMM...No response?

You should be looking at delta equivalent comparisons,and I am guessing the OP had the same short strike in the naked put and the vertical.. OP needs to be way more specific

You used to trade 100 lots from the long side,but are now focusing on "income" trading 3 lots on 20 dollar stocks while taking 4 points of heat on 1 dollar options?? LOL!!!!!!!!!!!!!!!!!!!!!!!!!!!

Perhaps, but its way more than you trade. Last I looked you were trading 2 lots on a 20 dollar stock.. Whi h is fine,but it doesn't buy you "vintage" Lambos

Well,they may drive one,but they sure as F%^K wouldnt brag about it..:)

What did you take in on this monster?? Short the straddle ,long 2 +1 dte wings on both sides. I see what you are doing :)

Meh, I would look at Verts before flys,which are what Bflys are composed of.. Especially if you are a decent directional trader.. Don't want to be right ,but wrong, as the stock blows thru your upper long wing..

Are you referring to Flys?? Flys are not necessarily Long gamma/Vega,esp ATM They can be structured as such Think about it

I get the fat fingering mishaps,but the second half of your story is a bit of a stretch... You thought you were filled purchasing $5000 worth of stock.which is a tiny notional,yet accidentally bought 5000 shares which must have been apx 700k-1.5 mil worth of stock as you made 70k on the...

The same could be said for stocks by your analogy. All stops are useless when the market isnt open... Do you also not use profit stops because the market isn't open on weekends or overnight? Fwiw,I could see why you wouldn't stop yourself out on a single leg long position or if you are an...

You have quite the imagination

Thats reasonable.. Appears you risk 60 basis points. Do you trade with a stop,which could enable you to trade bigger,or do you simply risk 60 Bps and hold to expiration??

You dabble with 100 contracts?? As in short?? On what??

Stock spiked frpm 15 up to 23.45 and he sold the 3/8 18 puts. Stock immediately dropped over 35% to a low of 14.78. He watched,ans seemingly sold a 15 put. From the lows,the stock reversed and closed at 20.24 on expiry. His puts closed OTM.. There is no right answer to your question,as long as...

Wx actually knows better than he lets on,and to his credit,while he appears clueless as to managing risk,he is smart enough to only sell covered puts. At the end of the day,thats how he manages risk. And,if you have traded long enough,that approach will work till it doesnt,but it wont be...

You are good,except it doesnt appear the stock traded at 14 or below,so you couldnt have been ITM by 4 bucks..14.78 was the low.. When did you sell these bad boys? I'm guessing on 2/27 with the stock trading as high as 23.45,right before it cratered 35%..

Careful SF,or you too may be blocked by the newb

What do you actually do for a living?