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So can anyone explain to me how market makers price their books via butterflies? I've heard of this a few times, I just heard Tom talking about it on tastytrade while I was looking up that fly spread segment. Why would they price their positions in fly spreads? Why not straddles? Or condors?

That's about my win rate, are you selling OTM? Sorry I'm too lazy to read this thread over again. I do mostly ATM because of the concavity of gamma and I like my exposure to vega convexity to be slightly negative.

Whooops! Sorry I didn't notice. My bad. And yes.. just some flies in single names. I'm in the journal section dropping gemz like dest.. lol jk but yeah I need a lil down move so these single name flies can expire at break-even.

This has the potential to be one of the biggest shake outs of all time.. Spooz regained 44%ish of its losses already. These markets are crazy. The magnitude has been magnified.

Hope your wrong brother, I need this shit to go down just a tadddd, todays expiration too. lol But hey, that's what makes a market:)

You're saying a buy and hold will do better than say selling premium in the indices.

Of course going wider improves winning %, but much more risk. I'm not against this, just stating easy facts. Just something to ponder. Via tastytrade

Hey Robert, whats your current win rate overall?

Idk what it is with your links, but literally every time I click it 404notfound stuff pops up

Of all the threads about selling premium on elite trader, theres one caveat I never understood that the greats never addressed. Whenever some duckling came along in the elite pond touting iron condors as income trades, the same group of peeps would heckle and claim its inevitable that the short...

"A parabola is bound by one law which fixes its relations with two straight lines at every point; yet it has no end short of infinity, and it continually changes its direction. The Initiate who is aware Who he is can always check is conduct by reference to the determinants of his curve, and...

"A parabola is bound by one law which fixes its relations with two straight lines at every point; yet it has no end short of infinity, and it continually changes its direction. The Initiate who is aware Who he is can always check is conduct by reference to the determinants of his curve, and...

You're the poetic speculator.. I love it, unique style. I'm talking about the distributions of spot. The illusion IS the drift. Yeah sure, drift is present, but the path-dependency of the movement is equalized. Its like price can "drift" over time, but in the interim its not going anywhere...

link?

How far would you go out? These are natural 10-point wide flies, with very good R:R and use of buying power. Lets take my FB 160/170/180 for 2.72 Would you instead widen the width to say 20 points? The 150/170/190 is currently quoted at 10.63. Which is a lot more expensive, and skews the...

I hear ya! Thanks for the responses I learn a lot when you reply! For now I’m doing basic 121 10 dollar wide spreads either ATM or slightly OTM. I want to stay ATM because of the concavity of ATM peak gamma. Not really a fan of iron condors but if put in the right hands a trader can bank nice...

I never was into fibs... but I always knew they were special. How the hell does price action magically line up with fib retracements? Amazing really. Even fib fans and archs, all that stuff is very cool indeed.

Does price even really move? Of course price exists, but the facilitation of price, the ebb and flow of "current" cy, the fluidity of liquidity in the markets oceans where we traders like captains of ships scale the seas for tradewinds to navigate, so that our trades win. Yeah overtime price...

Or maybe stop trading intra moves? Sometimes it's better off to just sell some cheap gamma bro