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This is the mystery. ............

Nice. Check back in with 21 DTE and let us know your adjustments.

so selling butterflies instead of buying them

You can really do any variety you like. For me with the covered calls I like to give the stock room to run if I don't mind being called away. At 19 you're up 300 plus on the stock plus the $45. I put in a GTC to buy back the call at 50% max profit and then just reestablish the position...

Good thoughts. I plan to hold through earnings. I have on some cash covered puts that i'm using the SPY play as a hedge against as well for next week. I'm going to start looking at the OI on some stocks for pinning plays but am going to wait until Wednesday to enter those. Just bought one of...

Sell the March 5 $19 calls @ $0.45 and then manage at 21 days DTE.

Week 3 - Looking ahead Opening Following Positions 1:2:1 AMD 91-90-88 broken wing put fly @ credit $0.35 1:2:1 WDC 50-49-47 broken wing put fly @ credit $0.25 both filled Using broken wings to collect credit on the put side. These are earnings plays in these stocks for next week...

Week 2 Outcomes Weekly Flies 1:2:1 IWM 213-210-201 put fly enter $0.35 exit $0.42 W 1:3:2 NIO 56-60-62 call fly enter $0.91 exit $1.85 W 1:3:2 X 20-24-26 call fly enter $1.32 exit $0.10 L 1:2:1 RIOT 26-30-34 call fly enter $0.72 exit $0.10...

I'm thinking the only way you get a profit range above both wings is if you leg into a fly. If you go with a 2-3-1 call set up and the market rallies towards your fly you could then sell a vertical spread leaving you with a 2-4-2 structure. If the credit collected on the spread is more than...

Orders routed through multiple brokers I'm guessing.

I saw this. My broker. Hoping this means I can finally trade European Rapeseed Oil futures and options.

As a member of the papist distributivism line of economic thinking I can't say i'm a fan of either party when it comes to politics. I am very curious what the Orange One does next. He owes Deutschebank a rather large sum due in a year. I'm hoping for an ex-president reality show strictly for...

Eyeing the $16 straddle in MARA as an expiration day play tomorrow. Big daily swings.

As I've been trading weekly flies I will leg out at the close and on expiration day but I only do it after buying back the guts first leaving my long gamma and a chance for the long options to run into the profits. Did it last week as I exited draft kings and ended up a few bucks ahead for...

Update Added the following buy GME 1:2:1 38-40-42 Call Fly @ $0.40 1 DTE Pinning Play Update bought in guts on X 1:3:2 20-24-26 call Fly @ $0.01 1 DTE leaving on the long 20 call in hopes of a rally.

From futures mag. ..... The second reason to use the vertical spread in a high volatility situation is the little known concept of trumpification. Trumpification is a delta effect caused by increased volatility and/or time. It causes in-the-money options to lose delta and out-of-the-money...

This does not sound like a fun weekend to me. I gather from your writing you're pretty intense. It sounds like you've leveraged this intensity into a very good trading career and my hat is off to you. I find these forums a great place to absorb new ideas. The banter is sometimes witty and...

Gotta say I kind of like it. If I had a much larger account and didn't mind tying up the capital. Avoids the shorter term gains to if you're holder over a year. I'm gonna ponder this.

I've toyed around with the idea of hedging for a black swan event buy doing back spreads and collecting a small credit. No black swan you keep the credit. Black swan and your long options give you room to run. Issue is to get the credit you widen the strikes so much it eats up your buying...

This is interesting although at first I thought you were talking Jan 22 expiration for 2021 and I'm like there's no bid. I've never seen a covered call strategy with selling mutli-year LEAPS. Do you always do them with such a long time frame? I'm usually doing them 30-45 DTE and then...