atticus' "ship it" vol trading journal

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The thetas are massive so every hour you abstain gives you more ammo to hedge. I'd short some stock or even sell a synthetic to keep it on. I'd like to get 4.50 tomorrow.
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Stock is going lower now. I'm adding to the Oct fly here, puts. Already in the iron.

EDIT: Filled in the iron, nixed the puts
 
Quote from atticus:

The Oct fly is my largest single name position.
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Flipped it when we broke 452. Out of the journal fly at 3.85. Source of funds for the Oct 400/450/500 iron from 31.20 risk.
 
Quote from atticus:

Performance to date: +12.4% after comms. PTT draw of 4.2%. PF of ~3.
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Performance to date: 12.9% after comms.

Single position in the journal account. MA Oct 400/450/500 fly (short gamma) from 31.20 risk and to limits of account.

This position won't require a lot of chatter as it's low g/t.
 
Quote from atticus:

Flipped it when we broke 452. Out of the journal fly at 3.85. Source of funds for the Oct 400/450/500 iron from 31.20 risk.
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Ugh, yeah wish I did the same, didn't get out in time.
 
Sucks. I am leaning bearish so I had to do it. Predicting a touch of SPX 1453 tomorrow, which will be injurious to that Sep fly. Couldn't keep it with that outlook.
 
Quote from atticus:

Sucks. I am leaning bearish so I had to do it. Predicting a touch of SPX 1453 tomorrow, which will be injurious to that Sep fly. Couldn't keep it with that outlook.
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Yeah I shorted more ES. Perhaps we should revisit those 1450 flies/cals
 
I am going to short more vola in MA for work account, so get them on while the gettin' is good. I will begin to hammer away at 10am EDT.
 
Just before close with the QQQ at $70.50 I checked out the 70/71 strangle - only $0.21. Puts for $0.14, calls $0.07. Tomorrow this will be a tad cheaper. iPhone on Friday, so this might be an interesting play for Thursday just before market closes, and exit on Friday.


:)
 
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