Destriero's single-name vola journal (riskarb; atticus; et al)

[destriero]

Of course. I always quote positions in terms of "risk" or max loss (debit). I've been quoting both since I typically trade irons and a lot of people can't grasp that strike-width - credit = debit. Especially if it's a 253 or 352. [reduce to 1-lot risk =width-(credit*0.5)].

So my NDX fly return is, 117-101.50=15.5/101.5=15.27% return. I did two of them so PnL=15.5*2*100=$3100. Which is almost enough to cover my expenses from hookers/booze for the week

I am referring to trainwreck guy commenting on this journal elsewhere on the site. It will force his hand in "trading" his fantasy shit, so I an elaborating. VZ the @trainwreck who lost money in 2017. A year that the SPX was up 20%.

 

[Doobs789]

I am referring to trainwreck guy commenting on this journal elsewhere on the site. It will force his hand in "trading" his fantasy shit, so I an elaborating.

I know you understand the derivation. It's for all your minions/spammers.

 

[destriero]

Out 20.80. I will structure a symmetric 231P fly from scratch. +12%.

 

[destriero]

Paid 3.60 for the GOOGL Jul27 1100/1150/1200 231P symmetric fly.

 

[SumZero]

but that one is a 2/3/1 as you already did often. was this what you wanted ?

 

[Doobs789]

Paid 3.60 for the GOOGL Jul27 1100/1150/1200 231P symmetric fly.


View attachment 188752

By "symmetric" you are referring to symmetric strike width (50 wide), not risk profile up/down (which is unbalanced)?

 

[destriero]

By "symmetric" you are referring to symmetric strike width (50 wide), not risk profile up/down (which is unbalanced)?

yup, symmetric refers to strikes. Obv the 231s with the 2/1 strike width are symmetric w.r.t. PNL.

 

[destriero]

but that one is a 2/3/1 as you already did often. was this what you wanted ?

I was going to take the 1190 calendar (long put) and use that as source of the Jul27 1110/1150/1190 put fly when the front week call went off. I decided to go ATM with the 1100/1150/1200 instead.

 

[Doobs789]

Paid 3.60 for the GOOGL Jul27 1100/1150/1200 231P symmetric fly.


View attachment 188752

You're holding this through the report?

 

[destriero]

You're holding this through the report?

Yes, that was the intent behind the Jul27 series. Obv the calendar would've been closed, but I'd always wanted to do the 40 or 50 wide.