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Ok index options...this was MARA. Still much cheaper than my bank. Hey what happens if you have a 16/17/18 butterfly and you let it expire with the underlying @ 16.53?

I'm on my phone...never use the mobile app....it looks like that's what they charge. https://www.interactivebrokers.com/en/pricing/commissions-options.php

I just closed a butterfly in IKBR that had 5/10/5 and it only cost around $7...so that's .46 per contract.

Every broker. It's totally bogus, the odds are stacked up worse than a casino, and casinos let you gamble for free...even give you free drinks lol. Regardless, if it was a flat rate you would only have to be mediocre to cover the cost. :) It's a total racket...no excuses for charging that...

I just tried to place a vertical spread (10) at my bank, and the cost was going to be $56!! 1.25 per contract + flat rate etc. Like seriously wtf? That's 15% of the pnl on a 1 SD move! If you place 1 trade a week and price moves 1 SD on 60% of them, then its $10,920 in gains, $7280 losses, and...

Because the more volatile a stock becomes, the lower the gamma is because the delta will not be so affected from a move by the underlying. It's more of a gamma dump.

The only reason is that fly has two break-evens so you can blow right through your profit zone if it gaps up or down after hours. Which it always does. Don't know why we don't have 24/7. It's total. B*******. Also, and what I like about flies is that you just set them and forget them because...

Tos used to let you close an option position based on the underlying price, but I don't think I can do that on my bank or ibkr so I have to figure out what the price will @ my short strike... Wait, the short strike is the max profit, so with a 16,17,18 call butterfly, the position will be worth...

Yeah I here ya. I've been margin called from my bank, closed the position then found out I wasn't in a margin call so I had to reopen it and they wouldn't even reimburse me the fees . I was planning on going camping today so I might not be able to close it out... expires tomorrow.

In both spreads and butterflys the broker should close them out if about to expire with the price pinned between the short call and long call if you don't have the capital to cover the assignment? ie 20/21 short call spread, or a 19/20/21 call butterfly spread if price is about to expire itm...

I'll ha e to finish reading Natenberg. :)

Price - call price + put price - strike = parity? That was just showing parity. Is this right? Underlying: $15.14 Strike price: $16.00 Call price: 0.15 P=F-C-K Put price should be 1.01 Underlying: $15.14 Strike price: $16.00 Put price: 1.01 C=F+P-K Call price should be 0.15

My sheet does calculate for it though :) (and delta)

With the volatility smile otm options have higher IV than ATM options. Shouldn't IV be the same across all strikes since price is linear across all strikes? Otherwise you are paying relatively more for OTM options versus ITM options when you should be paying relatively less as there is a higher...

I will try this strategy out next week, just analyzing it this week...but for now my strategy for when calls are too cheap to wheel, I just lob low cost butterflys at it lol.

I think buyers and sellers are getting lethargic at these levels...we could meander for a few months here and then I expect something to happen...I mean the talking heads think the sky is falling every time this goes from 70k to 50k lol but to people who have been around bitcoin a 30% move...

Think about that...we used to think 20k was high not too long ago...I thought $400 was high back in 2015 lol... Anyway this is what happens before it launches to the next level....it lulls you into new norms. What would seem crazy high now? 150k? $250k? I think it will blow through 100k and...

After D criticized the look of my spreadsheets I went to work. I have gotten them to a level that I never have to login to my broker platform anymore to track my stock or option positions, unless I'm actually placing a trade or funding. Now all I need is an api to actually place trades from my...

Just showing that my sheet concurs with Option creator results: The current break even is $22.25. If I open this position the break even drops to $19.63. As the price rises to the 22 short strike, the stock price loss decreases to -$3930, and the ratio spread gains $3930 so the position...

Then quit toting the us as the land of the free because they're ranked number 17 on the freedom scale.