Adam's Vol Edge Trading Journal

[Doobs789]

Was it hedged ?

It is now

Tomorrow should be interesting.

 

[Stamamarti]

It is now

Tomorrow should be interesting.

Yes tomorrow should be very interesting... On 4/14 I initiated in the same series the 2685/2755/2895 231 IFly for 40.00 risk (100.00 cr) and morphed it by hedging (in two steps) with 2x 2865/2710 and 1x 2845/2895 for a total 13.80 db ending up (by closing today) with the 231 IFly 2710/2755/2845 for 3.90 risk (86.20 cr). Now, let's see what tomorrow will bring...

 

[Doobs789]

SPXW Apr17 2700/2800/2900 121 Iron Fly for 50.75 risk (49.25 cr)

View attachment 225170

Out for 45 risk (55 cr). Loss of 5.75. Could've have been a lot worse.

 

[Magic]

Out for 45 risk (55 cr). Loss of 5.75. Could've have been a lot worse.

I had a 2770 fly for most of the week. +70 back to flat in an instant. Brutal timing.

Edit - Was 2 flies marked to +35 each at yday close

 

[Adam777]

Except for the recent flys, are they generally 1:1 risk reward?

 

[Doobs789]

Short some AAPL from 280.50

 

[Doobs789]

Except for the recent flys, are they generally 1:1 risk reward?

Generally, between 1:1 - 1.5:1

 

[PoopyDeek]

Generally, between 1:1 - 3:2

Corrected lol.

 

[Adam777]

Generally, between 1:1 - 1.5:1

Thanks. Ok a little more risk than reward, but at least the skewed straddle gets some wings

 

[Doobs789]

Thanks. Ok a little more risk than reward, but at least the skewed straddle gets some wings

Let me clarify. In this case it’s reward:risk.