atticus' "ship it" vol trading journal

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Jeez I trade options all the time but I can't see the weeklies on IB. Does it require some special market data subscription?

I saw last week's weeklies but that was also the last week of the monthly expiration cycle.
 
Quote from stevegee58:

Jeez I trade options all the time but I can't see the weeklies on IB. Does it require some special market data subscription?

I saw last week's weeklies but that was also the last week of the monthly expiration cycle.
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I trade with IB and am watching the AAPL Sep28s as I write this. Maybe do a reboot. I know that I have have problems in the past with java and quoting. Clear the cache and reboot; not just IB but your system as well.
 
Quote from Daal:

How that QCOR trade is working out?I assume IV on the 35s collapsed
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The strip (vol across strikes) doesn't work that way. The 35s drop or rise is relation to all. In fact, the deep OTM strikes are skewed (higher than ATM); a distinct "smile" driven by the demand (buying) of OTM lottery tickets and the natural writing of ATMs by the buy-side to convert to buy-writes. All vols dropped, but since you're 2x in the 35 the effect is magnified as the wings are less sensitive to changes in vola, put simply. Yes, you're not short excess contracts, but the vega in the 35 is greater than the sum of the wings (vega).

I didn't get any off, but the fly is up a quarter with the stock at 29 and change.

I am long the 20/30/40 fly in October here at 3.90-95 risk (3.80 mid). I'll update when I cover but it's not a journal position.

Edit: Spreads just blew out and it can be bought at 3.50. Adding, and I suggest it's nearly a fwd vol lock here at 3.50. I am averaged at 3.68 on the buys.
 
Quote from atticus:

The strip (vol across strikes) doesn't work that way. The 35s drop or rise is relation to all. In fact, the deep OTM strikes are skewed (higher than ATM); a distinct "smile" driven by the demand (buying) of OTM lottery tickets and the natural writing of ATMs by the buy-side to convert to buy-writes. All vols dropped, but since you're 2x in the 35 the effect is magnified as the wings are less sensitive to changes in vola, put simply. Yes, you're not short excess contracts, but the vega in the 35 is greater than the sum of the wings (vega).

I didn't get any off, but the fly is up a quarter with the stock at 29 and change.

I am long the 20/30/40 fly in October here at 3.90-95 risk (3.80 mid). I'll update when I cover but it's not a journal position.

Edit: Spreads just blew out and it can be bought at 3.50. Adding, and I suggest it's nearly a fwd vol lock here at 3.50. I am averaged at 3.68 on the buys.
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4.00 mid on the 20/30/40 Oct fly.
 
Quote from vinc:

it's probably because few people can understand this cryptic jargon of yours :)
it's so f. hermetic :)
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Just ask what things mean and don't get all butt hurt... woke up at 3 pm today... couldn't sleep at all last night... no weekly fly on aapl
 
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