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Yes one should look at the richness/cheapness of the premium to determine if she should sell the vol or buy it, or both, and at which strike and which expiration? Another point I'd like to add... debit verticals are more directionally based, while credit verticals are the opposite. Debit...

While true, depending on the bias of the trader and style, he could buy the 40/45 bull call spread, and sell the 45/50 bear call spread to create a butterfly. Trader is betting DT will be at 45 around expiration.

I realized the intellect of Peterson when he kept on mentioning he studied Jung for years. Anyone who wants to understand consciousness, how humans think.. as a collective and individualistic should study Jung's material.

Does anyone know if the average true range, or just daily range of price is larger or relatively the same, or smaller than the deviation/range of price in decades prior?

basic arithmetic and understand stochastic processes, differential equations. But honestly the math is more for academia, the book is about option theory more than anything, so it’s a good study regardless of the mathematics.

Here’s a few more to fuel this thread. “MIDAS Technical Analysis: A VWAP Approach To Trade Today’s Markets” by Andrew Coles “Option Math For Traders” by Scott Nations “Evidence Based Technical Analysis: Applying The Scientific Method And Statistical Inference For Trading Signals” by David...

BS, please detail which strikes you chose for these put flys

You’re mixing technical analysis with days to expiration. Chart preferences come from experience and what fits your personal strategy. You can use a weekly 5 year chart to trade 30DTE, it’s really subjective

amazing work! Keep up the great work man!

Thus Spake Zarathustra is a damn good book. Nietzsche for the win. trading related I read a lot of books, but I skim through parts here and there. rn I’m reading Automated stock Trading Systems by Larensbendorp Positional Options Trading by Euan Sinclair 100 Bagger Stocks That Return 100 to...

OTM/ITM has nothing to do with it

What do you mean by "move down in SPX"? WHen it comes to 132/231 fly's, you can structure the wings 2/1 ITM to body-strike. In your example you bought the 3200/3270/3335 231P, the width of the upper wing to body is 65 points, while the lower wing is 70 points in width from the body. instead...

true, but not all mentors are scammers. If you have any sense of aura you can tell from the onset if someone is selling snake oil, or legit shit. It all depends. I have many books I’m reading rn, and Bensdorp is one of em, I’m on chapter 3, so far I haven’t sensed anything fishy.

Wow, didn’t know Jack was releasing another! huge fan of all the wizard books! I got em all, surprisingly my favorite of them all is the hedge fund one, lots of gems even for the retail trader in that book!

Wow just finding this thread. Subb’ed.

This is a gem, thanks for sharing. Going to play around with this website now. As we permit to the future, we will see more and more of these new website/apps via optionality and its only going to get better. I'm excited to see whats in store.

While I agree with this, I don't think it applies here. I'm not concerned with 6 sigma events because I'm not running a large book of optionality. For example, I could trade a single fly in each of the most liquid of underlyings (equity), and "spread" out my risk (assuming the UL arent highly...

Idk why people think Desty bought wings very wide? He does it all, in all variations. Sometimes his width is 10 bucks, other times it’s 100. The key is which wing do you skew to bias your risk (whether it be a vol bias or directional or both). This is where 132/231 and simple skip strikes come...

I think applying EWT with Fibonacci levels is essential, using it without fibs defeats the purpose of wave theory anyway

right.... the risks (greatest) of any portfolio is variance and correlation. Thus both are encapsulated in the covariance matrix. the question I have it, of course depending on the personal goals of the individual and how that person views idiosyncrasies in his risk tolerance, how many uncorr...