Search results

:eek: Sometimes I think you get a little carried away LOL. Congrats on yours too.

Don't sweat it LOL. Forgot to say congrats on the new baby.

Commiserations. That's bad luck and very honest of you. Better to experience this and have it burned in memory early on rather than when you've made millions :p Hopefully, you had the ideal hedge in place: limiting the position size/max risk to single digit percentages of portfolio. It's...

Good luck with your goals and journal! MoMoney.

I move markets :p

Funky indeed. Double no-touch with long vanilla straddle hedge = hybrid short fly? My small brain says that the long gamma on the vanilla is too expensive in addition to mismatched option expirations. I seem to recall this was more workable the other way around e.g. double touch and short...

Hehe, 29%+ YTD not too shabby. Was a bit :confused: on the 1280 SPX bull put position, would rather have had that expanding gamma working for me rather than against me. Still, good job on getting out flat on the spread. Looks like cnms has moved in! Have we confirmed the bottom here ES...

Ditto :) Now if I could just find it...

Ha! Your point on replicating gamma/martingale with futures being potentially messy in markets like today is well made and has given me pause for thought. I've been toying with the idea of automating such gamma replication and although I'll probably follow through on the exercise, its...

Point taken! Running the numbers, as you say your b/e was way up by 1315 so there was room to breathe. What was hypothetical plan of attack if ES went north of 1315?

This correction is faaantastic IMO. Breathing volatility back into the market after a mind-numbing 6 months. For the many millions of lurkers/non-contributors/newbies following this thread: be mindful of SET,NDS for your SPX/NDX positions, don't want to see any unfortunate surprises :D...

Bad luck on that one Scienter. For more thoughts on possible hedging approaches: http://www.elitetrader.com/vb/showthread.php?s=&postid=971374&#post971374

It's all good, call or no call :) Bad luck on the barrier. Sounds like it was about scratch overall if you include the VBI position. Might even make bank on the hedge if we keep going down from here.

What are you after? Perhaps we can cut the MM out and trade between ourselves? LOL.

LMAO, I must be bored. In the interest of diplomacy, I think we can all agree that if purely looking at the position to have if exactly $55 at expiration, the OTM fly offers superior risk/reward. I think we can all also agree that there was missing information in the original question and...

If the stock hits 55 at expiry or sometime in the last week. Prior to that, there are better positions IMHO. The OP only says "over the next month". MoMoney.

Not being rude, but you seem to be contradicting your "deltas are king" assertion earlier in the thread and the premise of your earlier suggestions. Have I misunderstood? Well, this could all be down to simply different interpretations. If one were to look simply at static expiration risk...

LOL, yes. Must emphasize, edge loss on these products can make the b/a spreads on SPX options look like charity :)

LOL, thanks IV. I'm trying to be as patient and polite as possible here :) Agree, not quite enough info in original post...but we can infer. If 52.5 strike not available, ATM 50.

Well that is your intepretation. Mine is somewhat different: "is going to hit $55 over the next month." I interpreted that as the stock is going to hit $55 before the next expiration. I'm quoting that as $3.75 debit a combo. Not sure where the discrepancy is. That's a first :D So...