Destriero/Atticus Vol Journals.

[OptionsOptionsOptions]

@optionsinvestor has a documented journal that turned 2K into over $100,000 in 8 months.

• I don't follow the journal section very much.
• He should also post in the option forums. Just the entry and exit - no long winded posts.

 

[destriero]

This is zero documentation in optioninvestor's thread. IOW, total BS.

 

[OptionsOptionsOptions]

This is zero documentation in optioninvestor's thread. IOW, total BS.

• I agree
• His trades get lost in the lengthy posts

 

[vanzandt]

• I agree
• His trades get lost in the lengthy posts

What about @JackRab? He knows more about and helps with advanced option strategies than anyone here.

 

[destriero]

What about @JackRab? He knows and helps with more with advanced option strategies than anyone here.

Jack seems like a good guy, but this isn't Jack's thread. Thanks for your support.

 

[TheBigShort]

Jack seems like a good guy, but this isn't Jack's thread. Thanks for your support.

How wide do you like to get on your flies? risk of 1:1, 2:1...? I understand short gamma is a +ev trade BUT buying the wings is a -ev trade so does it not cancel out?

 

[vanzandt]

Just for the record ..... that list was just a copy and past of the Users Online Now
https://www.elitetrader.com/et/online/

Oh ok. Funny.
But yeah Optionsinvestor and Jackrab certainly belong on any top 30 list. OI is directional, but @JackRab is very impressive with his knowledge and his ability to explain it in plain English.

 

[destriero]

How wide do you like to get on your flies? risk of 1:1, 2:1...? I understand short gamma is a +ev trade BUT buying the wings is a -ev trade so does it not cancel out?

I don't have fixed targets. I model local payoffs (mostly flies) on price and time. I can't explain it in detail here, but you should have a methodology based upon "local vol" and price. I trade into a lot of events as well; macro data, reports, politics, weather, etc. 90% in an IRA.

I have a model that triggers entries in index and 20-30 large caps. My primary trade is a 132C (231P) fly, but I trade 121s, calendars, diagonals. I have a taxable account for overwrites and pitchforks.

 

[destriero]

A trade in AMZN for a taxable account. Long 20 deltas on a 10-lot from 15.40 marketable. Short 50 shares against. I will follow up.

 

[OptionsOptionsOptions]

A trade in AMZN for a taxable account. Long 20 deltas on a 10-lot from 15.40 marketable. Short 50 shares against. I will follow up.

I'm trying to visualize this trade - I'm familiar with 1-2-1 but not 1-3-2.

AMZN at $1,750

• 1-2-1 you want AMZN at about $1750 throughout the trade.
• But you have added a 1750/1725 put credit spread - again you want AMZN at 1750+.
• So your target for AMZN would be $1750 to about $1780?