atticus' single-name delta book

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Quote from atticus:

Going to limit posts to constructive threads and topics and avoid the vitriol.. Received some bad news about a family member and realize that I spend too much time sparring.
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Good idea, think Ill try to do the same. Life is short, have fun.
 
Quote from atticus:

Going to limit posts to constructive threads and topics and avoid the vitriol.. Received some bad news about a family member and realize that I spend too much time sparring.

Looking to trade a CL position tomorrow before the EOD.
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+1

i wanna trade the crack.. am i reading this right.. is there futures directly on crack spreads... ?

https://www.theice.com/productguide...d=74658816D5F21B06390B7B0CF6CAC34B?specId=231

http://www.cmegroup.com/trading/ene...ad-calendar-swap_contract_specifications.html
 
End of month and end of quarter coming right up, just a note to self.

Been a big quarter for spoo, lots of back-patting to be expected.
 
I am not making any money (maybe a tiny amount) on my butterfly
spreads because the market seems to have bipolar disorder. Up when
the news should send it down. Down when news should send it up.
I would have had a great week if I had held my flys.

I closed my Mar 28 SPX iron butterfly (1585/1565/1545) on Monday for some
profit. I would have made 5x more profit if I had held until today, but I
also would have been in the red on some of the days in between.

I took a small loss on my NFLX Apr. 5 205/185/165 put butterfly
when NFLX looked like it was going to 200 on Wednesday. It then
retreated so I should have held. I should have not closed it since
it was still 10 days from expiration, I think.

I chickened out and pulled my order for a 185/175/170 CRM butterfly which
would have worked because I was not sure about moving my normal mid point
up from my previously good 180/170/160 flies.

I did make some profit on a GLD 158/155/152 March 28 put fly because it
just sat around at 155 but posiition was way to small.

My thinking is that I do not dare hold butterflys when they hit the
wings or into expiration day because spread turns into basically
a +/-1.0 delta bet.

Anyone have some rules to use?
 
Quote from vanv0029:

I am not making any money (maybe a tiny amount) on my butterfly
spreads because the market seems to have bipolar disorder. Up when
the news should send it down. Down when news should send it up.
I would have had a great week if I had held my flys.

I closed my Mar 28 SPX iron butterfly (1585/1565/1545) on Monday for some
profit. I would have made 5x more profit if I had held until today, but I
also would have been in the red on some of the days in between.

I took a small loss on my NFLX Apr. 5 205/185/165 put butterfly
when NFLX looked like it was going to 200 on Wednesday. It then
retreated so I should have held. I should have not closed it since
it was still 10 days from expiration, I think.

I chickened out and pulled my order for a 185/175/170 CRM butterfly which
would have worked because I was not sure about moving my normal mid point
up from my previously good 180/170/160 flies.

I did make some profit on a GLD 158/155/152 March 28 put fly because it
just sat around at 155 but posiition was way to small.

My thinking is that I do not dare hold butterflys when they hit the
wings or into expiration day because spread turns into basically
a +/-1.0 delta bet.

Anyone have some rules to use?
More...
i've arrived a the same points many times.. tough..
 
This thread has been helpful, and I now have some experience with different
one and two week out butterflys. I have been holding usually to either the
expiration data or the day before and run into no spread quote from IB. It seems to
me I should just always trade iron butterflys because the veriticals do have quotes.
Also, seemingly there is only a tiny extra commission part from IB. Am I missing
something, i.e. do regular butterflys have advantages? I think current
IVs are coming down, but if that changes, I think iron butterflys are a lot easier
to change into calendars.

Also my profit from my GLD 158/155/152 put spread was much worse than I
thought because it turns out IB defaults GLD options to the 10x multiplier GLD7
options unless in the combo order I explicitly select the 100x multiplier at the
top. I thought I would mention this in case any other newbies are thinking
of trading the GLD butterflys.
 
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