convexx's "hitting bids and lifting offers" ETF options

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convexx said:
25/60/30 231 long in puts for Nov7. 18% allocation. Largest vol-signal for the quarter. Nearly 600bp skewed on tails and 110bp on summed-vol.
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I am not sure if this is the right thread to ask this in. I have Oct. 31 call 231 ES wk 4 call flys that I tried to close today Oct31 +1910C, -3*1950C, +2 1970C. My timing was ok because I closed them by legging out when ESZ14 was at 1966. In theory, I have a good 10 or so percent profit.

My problem is that I think weekly ES options are European style. I bought back the short 1950 calls and long 1970 calls with not much problem because they had narrow good bid/ask spreads. Unfortunately, the long 1910 calls had no bid/ask at IB. I sold exactly the same number of ES futures as long options at 1966 and clicked on the TWS exercise button as I always do for equity options, but TWS cancelled my exercise because I think ES weekly options are European style.

I think I am perfectly hedged for 3 days down to 1910 ESZ14. Should I try to buy a long 1 ES futures short 1 ES WK4 1910 spread tomorrow?

Is there a better way to get out of the last part of my position?

Are SPX index weekly options also European style?

With my luck there will be a Martian invasion between now and Friday causing the market to tank.

Thanks for the help.
 
Could not find your cumulative performance stated anywhere. Must be missing something???

convexx said:
I posted trades in RT on my stfu journal. I posted screenshots of fairval (mid) as it's a single figure and convenient. In products like GOOG it was achievable. In index products I paid $0.30 over mid on average.

I will again be completely transparent with my timing in my ETF signals taken in vola. I will post all trades in RT. All trades will be expressed as "worst-case" fills. Lifting offers on the buy, hitting bids on the sell. Screenshots in RT that will reflect the COB NBBO.

I will be starting on Monday. I will report cumulative performance at the close of each trade. No fills inside NBBO.

30-60 day journal.
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I doubt that, at least he must have had his attitude cut big time some time this or late last year. Perhaps some religious enlightenment. In any case, he stated he wanted to post cumulative pnl which is nowhere to be seen and the fills he posted are aggregated (rather than broken down by legs) so its hard to impossible to follow. And is this the ToS app? Never used it but wonder why someone would use such execution venue if he/she was by own admission that successful. Just few things (as usual) not really adding up...not saying more not less...


marketsurfer said:
It must be 100% plus per year consistently. The guy rarely posts a loss!
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vanv0029 said:
I am not sure if this is the right thread to ask this in. I have Oct. 31 call 231 ES wk 4 call flys that I tried to close today Oct31 +1910C, -3*1950C, +2 1970C. My timing was ok because I closed them by legging out when ESZ14 was at 1966. In theory, I have a good 10 or so percent profit.

My problem is that I think weekly ES options are European style. I bought back the short 1950 calls and long 1970 calls with not much problem because they had narrow good bid/ask spreads. Unfortunately, the long 1910 calls had no bid/ask at IB. I sold exactly the same number of ES futures as long options at 1966 and clicked on the TWS exercise button as I always do for equity options, but TWS cancelled my exercise because I think ES weekly options are European style.

I think I am perfectly hedged for 3 days down to 1910 ESZ14. Should I try to buy a long 1 ES futures short 1 ES WK4 1910 spread tomorrow?

Is there a better way to get out of the last part of my position?

Are SPX index weekly options also European style?

With my luck there will be a Martian invasion between now and Friday causing the market to tank.

Thanks for the help.
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van....if you want to close out your 1910 then just put a bid in and leave it...even if there is no bid or ask it will trade as long as it is reasonable. once you have your bid in you will see some activity then adjust as needed
 
volpunter said:
I doubt that, at least he must have had his attitude cut big time some time this or late last year. Perhaps some religious enlightenment. In any case, he stated he wanted to post cumulative pnl which is nowhere to be seen and the fills he posted are aggregated (rather than broken down by legs) so its hard to impossible to follow. And is this the ToS app? Never used it but wonder why someone would use such execution venue if he/she was by own admission that successful. Just few things (as usual) not really adding up...not saying more not less...
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If you want to follow, just do as I do.

Model the spread and watch the overall price. If you trade on a decent platform, you should be able to do it. I use IB. I too cannot understand this fascination for knowing what the legs do. We don't leg in or leg out so the price of the legs is quite meaningless. It's a spread we buy and sell.
 
volpunter said:
I doubt that, at least he must have had his attitude cut big time some time this or late last year. Perhaps some religious enlightenment. In any case, he stated he wanted to post cumulative pnl which is nowhere to be seen and the fills he posted are aggregated (rather than broken down by legs) so its hard to impossible to follow. And is this the ToS app? Never used it but wonder why someone would use such execution venue if he/she was by own admission that successful. Just few things (as usual) not really adding up...not saying more not less...
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lol wtf would you need the fills on the legs? I haven't used TOS since 2003. It's convenient to post mids using their front-end. Piker, you use IB.

How can you be following if I am on ignore? What about my indiscretions? http://www.elitetrader.com/et/index...-php-api-interface.285837/page-3#post-4014998

lol now please explain to me how the aggregate COB quote is somehow deficient.
 
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that is not the issue, the issue is with someone who creates one after another show-off blog with titles like "stfu...bla" and boasts blotters and screenshots of cumulative pnl and that in my book includes showing prices, traded at, including legs, if the traded asset is a structure.

See, the net and especially this site is littered with people who try to pull down the Timothy Sykes, pulling the wool over peoples' eyes by posting aggregate prices that may or may not actually be near any executable levels. I am not accusing convexx of that, I want to make this crystal clear. But it is easy to misrepresent numbers if individual legs' prices cannot even be reconciled in retrospect. There are too many dummies who believe whatever is fed to them. I have seen screenshots within journals here of IB's TWS where the respective OP manually "adjusted" the current "position unit value" to make his performance look way better than it actually was. The funny thing was such valuation was not reconcilable at indicated time of execution. Not showing the prices of legs of a structure makes it almost impossible to verify prices unless one reconstitutes the whole structure.

justrading said:
If you want to follow, just do as I do.

Model the spread and watch the overall price. If you trade on a decent platform, you should be able to do it. I use IB. I too cannot understand this fascination for knowing what the legs do. We don't leg in or leg out so the price of the legs is quite meaningless. It's a spread we buy and sell.
More...
 
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that I removed you from my ignore makes me in any way less credible? And I simply asked where yur cumulative pnl is that you boasted you would show each time you close a trade. Maybe you mistyped? In that case I apologize of course.


convexx said:
I posted trades in RT on my stfu journal. I posted screenshots of fairval (mid) as it's a single figure and convenient. In products like GOOG it was achievable. In index products I paid $0.30 over mid on average.

I will again be completely transparent with my timing in my ETF signals taken in vola. I will post all trades in RT. All trades will be expressed as "worst-case" fills. Lifting offers on the buy, hitting bids on the sell. Screenshots in RT that will reflect the COB NBBO.

I will be starting on Monday. I will report cumulative performance at the close of each trade. No fills inside NBBO.

30-60 day journal.

convexx said:
lol wtf would you need the fills on the legs? I haven't used TOS since 2003. It's convenient to post mids using their front-end. Piker, you use IB.

How can you be following if I am on ignore? What about my indiscretions? http://www.elitetrader.com/et/index...-php-api-interface.285837/page-3#post-4014998

lol now please explain to me how the aggregate COB quote is somehow deficient.
More...
 
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