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It would be a 20-22 call spread in this case. Generally i would exit and don't mind paying a penny or two above full carry to do it as it saves the assignment fees from my broker. At this point the trade would be at max loss but a max loss no higher than the original set up in the trade...

I'm setting a GTC order at 25% of max profit. If I'm exercised on one of the short calls I can exercise my long call at 19 to off set it and then am left with 2 short bear credit spreads. If exercised on more I can buy in the stock and and should be left with a small profit. As long as it...

If you are day trading equity options with an account under $25,000 you will probably run into a significant problem with the pattern day trader rule. You are only allowed 3 day trades in a 5 da period. Maybe i'm missing somethin with what you're trying or maybe you're trading outside the...

Have you considered using VXX?

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In some ways yes. I haven't quite figured out my explosive position - love the sound of it. Best I've come up with is using calendars with a wide spread in VXX and rolling and collecting more premium to end up with a long position in vxx calls to offset my usual short theta array of IC and...

Was 1:3:2 a typo on my end.

@ffs1001 Many thanks for the book suggestion. I will give it a look. So far the trades are winner not for the pin but because they were put on before the sell off. Up .20 in both APPL and RIOT. See what the next few days bring.

"The market can remain irrational longer than you can remain solvent" - John Keynes

Still waiting for my appointment with Wendy Rhodes. Chuck and Axe keep blocking me. Dollar Bill's on my side though.

Also put on the AAPL 133-134-136 BWB @ .55 credit hoping for the 134 pin.

Trade executed slightly altered 19 - 20 -22 1:3:3 Broken Wing Butterfly @ .45 credit filled this morning. Hoping for RIOT at the pinning strike of 20 on Friday.

I only use my laptop. If you have the screen open with option chains it works by just clicking the word strike that has an arrow next to it in the middle top. Can't comment on the Ipad app as I haven't used it. I sometimes check the prices on my Google pixel android app but don't see it in there.

I like the broken wing as it usually allows the trade to be done at a credit. If it moves lower with calls or higher with puts then I can keep the credit. I like the credit even though it increases the risk of a loss but the POP is much higher than the balanced fly.

On TW if you click the strike button on the table view for options it has an arrow. Pressing it flips the strikes to you can view them in either ascending or descending order.

Although with bitcoin futures up 15% tonight i'm guessing RIOT opens a tad higher tomorrow. Pricing might be different but we'll see.

To have a real test I'll put on a 1:3:2 broken wing call butterfly in RIOT tomorrow. 19,20, 21.5 broken wing. Should be able to put on at a credit of .19 (wide bid asks so we'll see but if I can get a small credit minus commissions will execute) and will hold till Friday and see how it ends...

I'm pretty sure if it exists after the fact then it happened on expiration day. There are reasons for it tied to the inventory of long options held by the large market making firms. https://www.tastytrade.com/tt/shows/market-measures/episodes/expiration-pinning-09-21-2012

Curious to see if anyone has any data on the phenomenon of pinning on expiration day. By this I mean the equity trading or moving closest to the strike with the most open interest. I'm looking to come up with some parameters of a 14 or 7 day butterfly strategy 1:3:2 broken wing or traditional...