atticus' "ship it" vol trading journal

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It's worth the risk. Bought the 640/675/710 Oct fly on AAPL from 10.20 risk (10.10 mid). Limits of account. Risking 2.50 if AAPL goes with an October date, but I'm simply not hearing it. My guess is that they'll need more time and the "4th Tuesday" has been persistant.

Be careful with it, trade it small (do as I say, not as...)
 
Quote from atticus:

It's worth the risk. Bought the 640/675/710 Oct fly on AAPL from 10.20 risk (10.10 mid). Limits of account. Risking 2.50 if AAPL goes with an October date, but I'm simply not hearing it. My guess is that they'll need more time and the "4th Tuesday" has been persistant.

Be careful with it, trade it small (do as I say, not as...)
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I see the R/R as 1 on Oct vs. Nov date at $2.5 in premium (i.e. 7.70 or 12.70) when date is announced.
 
It's an easy 10.15 fill on calls here at 10.08 mid. That's my suggestion as I wouldn't want to hold the iron at the wings due to straddle delta as the NBBO will be maybe 40 cents wider on the iron. Simply a microstructure argument. An easier fill on the calls and it's sufficiently out from neutrality. Nice gains to body.
 
Quote from atticus:

I see the R/R as 1 on Oct vs. Nov date at $2.5 in premium (i.e. 7.70 or 12.70) when date is announced.
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Yeah definitely inherent vega risk there, but I would still take the later date. On the flip-side, I was looking at some Sep/Oct calendars for a short hold, but decided against it.

I am in the fly at 10.10 risk (irons)
 
Quote from atticus:

It's an easy 10.15 fill on calls here at 10.08 mid. That's my suggestion as I wouldn't want to hold the iron at the wings due to straddle delta as the combo NBBO will be maybe 40 cents wider on the iron. Simply a microstructure argument. An easier fill on the calls and it's sufficiently out from neutrality. Nice gains to body.
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Damn. Was just filled in the iron.
 
Quote from Doobs789:

Yeah definitely inherent vega risk there, but I would still take the later date. On the flip-side, I was looking at some Sep/Oct calendars for a short hold, but decided against it.

I am in the fly at 10.10 risk (irons)
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More risk (by far) in the calendar.
 
Quote from atticus:

Ha, no worries. When trading a delta-fly like this I prefer to go with calls or puts on the COB.
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Yeah same here. I probably should've stuck it out with the call fly order, but got filled quickly in the iron. It's not that significant though.

I'm looking at that GOOG 750 calendar here closer to 5.50. I just noticed that the 760 cal from yesterday is now over 18.
 
Quote from Doobs789:

Yeah same here. I probably should've stuck it out with the call fly order, but got filled quickly in the iron. It's not that significant though.

I'm looking at that GOOG 750 calendar here closer to 5.50. I just noticed that the 760 cal from yesterday is now over 18.
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Yeah, shouldn't have gotten shaken out of that. It's difficult when you're trading to limits.
 
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