1000% Implied Volatility In GameStop

destriero said:
Since you guys all like flies.

GOOGL:

Long the Mar19, 2021 1750/2030/2500 231 asym-fly in puts at 299.55 last. Any fill under 303 is acceptable. I am quoting it as the put spread, but ideally you'd trade the combo/synthetic by shorting two of the Mar19 1750/2030 put spreads and shorting one of the Mar19 2030/2500 call spreads.

299.55 basis Friday's close. It's going to trade to 302-303 on Tuesday open. So we can address it 15 mins after the open. Marked to the above put fly at 299.55 last.

NVDA:

Long the Apr16 450/650/750 132C asym-call fly from 85.98 last. Same conditions as above. This spread isn't going to move from Friday to Tuesday. Obv best-practice is to trade the synthetic, but we will mark it to the call fly.

I am marking both trades to Friday's close and anyone else whom would like to play can do so using Friday's closing prices as long as it's done before the futures open at 6pm ET. today. Otherwise you're gonna need to use Tuesday's prices.

GOOGL put fly: 299.55 mid.
NVDA call fly: 85.98 mid.

I own both of these, but only the GOOGL in size. The GOOGL is a $30K req so it really doesn't fit the contest, but it's my biggest position, personally. In March and other months. The March position being representative of my greeks.

$38,600 req.
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Interesting. I bought a couple of Mar12 590/630/690 121C NVDA fly on 2-10-21 just to try things out.

Why are you going so far out in expiration? You used to do 1-2 wks and I thought that was too short so mine are typically 4 weeks.
 
Saltynuts said:
No no, I meant KNOW not NOT lol, not sure how I screwed that one up. The point is whichever way it breaks big, if it does break big, your other leg covers you. And if you are particualrly risk adverse sell ones that are a good bit in the money.
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In that case I take it back.

OK, so all great minds think alike.
 
destriero said:
Since you guys all like flies.

GOOGL:

Long the Mar19, 2021 1750/2030/2500 231 asym-fly in puts at 299.55 last. Any fill under 303 is acceptable. I am quoting it as the put spread, but ideally you'd trade the combo/synthetic by shorting two of the Mar19 1750/2030 put spreads and shorting one of the Mar19 2030/2500 call spreads.

299.55 basis Friday's close. It's going to trade to 302-303 on Tuesday open. So we can address it 15 mins after the open. Marked to the above put fly at 299.55 last.

NVDA:

Long the Apr16 450/650/750 132C asym-call fly from 85.98 last. Same conditions as above. This spread isn't going to move from Friday to Tuesday. Obv best-practice is to trade the synthetic, but we will mark it to the call fly.

I am marking both trades to Friday's close and anyone else whom would like to play can do so using Friday's closing prices as long as it's done before the futures open at 6pm ET. today. Otherwise you're gonna need to use Tuesday's prices.

GOOGL put fly: 299.55 mid.
NVDA call fly: 85.98 mid.

I own both of these, but only the GOOGL in size. The GOOGL is a $30K req so it really doesn't fit the contest, but it's my biggest position, personally. In March and other months. The March position being representative of my greeks.

$38,600 req.
More...
We are building a paper trading system so I can try these trades out.
Our prices are 14-minutes before the close so they are off from your closing prices.
451576f2ec4392388e366df9ae9aed5b.png


52a0002b603193512c398a9ea299fcc7.png
 
destriero said:
Since you guys all like flies.

GOOGL:

Long the Mar19, 2021 1750/2030/2500 231 asym-fly in puts at 299.55 last. Any fill under 303 is acceptable. I am quoting it as the put spread, but ideally you'd trade the combo/synthetic by shorting two of the Mar19 1750/2030 put spreads and shorting one of the Mar19 2030/2500 call spreads.

299.55 basis Friday's close. It's going to trade to 302-303 on Tuesday open. So we can address it 15 mins after the open. Marked to the above put fly at 299.55 last.

NVDA:

Long the Apr16 450/650/750 132C asym-call fly from 85.98 last. Same conditions as above. This spread isn't going to move from Friday to Tuesday. Obv best-practice is to trade the synthetic, but we will mark it to the call fly.

I am marking both trades to Friday's close and anyone else whom would like to play can do so using Friday's closing prices as long as it's done before the futures open at 6pm ET. today. Otherwise you're gonna need to use Tuesday's prices.

GOOGL put fly: 299.55 mid.
NVDA call fly: 85.98 mid.

I own both of these, but only the GOOGL in size. The GOOGL is a $30K req so it really doesn't fit the contest, but it's my biggest position, personally. In March and other months. The March position being representative of my greeks.

$38,600 req.
More...


Thanks Destriero!

it'll be my first fly: somehow my values look different to those posted by Matt_ORATS.

upload_2021-2-15_8-11-17.png


is it correct?
 
Saltynuts said:
No no, I meant KNOW not NOT lol, not sure how I screwed that one up. The point is whichever way it breaks big, if it does break big, your other leg covers you. And if you are particualrly risk adverse sell ones that are a good bit in the money.
More...

Do I have to write it? Hindsight bias.

Where would you have shorted the combo? $100, 200? Your other leg covers you?

You sell the par-combo at $40 and it traded over $400... in a week. Good call, mate. I know very smart and experienced people who lost millions in GME.
 
destriero said:
The deeps had no mkt so you'll have to wait until the open. FWIW, there is no point in trading this as a combo as the natural and synthetic bull leg is so DITM.
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Deeps only work for high volume like SPY. That was why mine didn't go as deep. But there is no free lunch so I lost a little something else.

Your GOOGL is very interesting. You know something I don't.
 
ironchef said:
Deeps only work for high volume like SPY. That was why mine didn't go as deep. But there is no free lunch so I lost a little something else.

Your GOOGL is very interesting. You know something I don't.
More...


They will show a NBBO tomorrow once we open.
 
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