Destriero - Butterfly Trades

caroy said:
Very interesting. That's quite a project. Right now I'm working a strategy based on pinning and OI using flies to short the guts at the high OI. These are usually 2 to 4 day plays with a directional bias. I like longer DTE ones around earnings broken wing put side to collect a credit and have been using longer ones in VXX as a hedge. Am starting to explore some longer DTE set ups and will look to put one on this week.
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You sounded like @destriero. Very advanced thinking. :thumbsup:

Mine is simple, 121 is just a bet on the direction of the underlying.
 
taowave said:
Chef,the testing is a good start and could work if you are going to trade systematically...But then you have to stick with the system..
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Guilty as charge.
taowave said:
I joked about Des secret sauce,and he came out and told you what it is,which doesnt help all that much as its more art than science...
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Actually very helpful, but if you ask me to spell out his secret sauce, I don't have it. I am brewing my own.
 
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I didn't take a pic of my other slips, but WillHill was paying 270 all day, and Caesar's was paying 280 for VIP and tickets over $50K.

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taowave said:
Good F-in call.McNuggets is cooked..That shin kick was all she wrote...
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I was out of the sports book and in my room when the fight started. It was enough of a bet to ruin my weekend if Diamond had lost. I never watch when I have size riding on the contest. I've since watched the full (short) fight. The only reason Poirier traded at +270 to +280 was knowing that any decision would have been given to McNuggets.
 
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