dest's overwrite journal

[TheBigShort]

I follow you and read all your posts, fascinated by your vocabulary. After 6 months of reading all kinds of volatility books, I am beginning to get most of your comments. At the risk of pissing you off, AMZN is quite capable of rallying 100 points in a day, more than the day-one mark(hope I understood it correctly) of this position. I like this structure and would like to trade it myself but I can't seem to get past this what if it rallies scenario. I am also horrible at taking loses so this small loss would easily turn into a full loss. I am following this trade and like that a small stock position would delta hedge this and push the one day mark by about 20 points. Maybe that will be my way of managing this. Thanks for all your posts on ET. Great stuff!

start trading these!
This might be a losing trade for dest but that should not discourage you. Take his trades, post your fills and get feedback. Then repeat.

I cant encourage this enough especially if you have read his previous journals.

Watch how the position moves and relate it back to Dests posts. I can't stress the importance of this.

Only 3 years later, when i find myself talking like dest, do i realize how important those initial days were taking his 132 flies having no clue WTF he was talking about were.

 

[destriero]

BC I went to HS I can say with confidence that the max terminal risk on the AMZN trade is $4,800 per lot. Asym-fly (3400/3500/3550) was trading over $15 and has shit the bed with the stock. The classic BWB (asym-ratio/sym-strikes) has earned a bit as recommended.

Make more when you're right than you lose when you're wrong. How you go about that is your f*cking business... unless you're maskless.

 

[destriero]

First down day in 14.

 

[Overnight]

First down day in 14.

View attachment 266092

You're like the only person ever, besides me, to post that you had a losing day in a real money account. Hallelujahs! (We're not sure about wabu27. On the fence there.)

 

[destriero]

Short NDX from 950 in a RR.

 

[NoahA]

Short NDX from 950 in a RR.

View attachment 266202

I take it this trade is dead in the water? It went almost 150 against the 950 entry this morning.

 

[destriero]

I take it this trade is dead in the water? It went almost 150 against the 950 entry this morning.

I converted it to a synthetic 750 straddle at 877. It's a long term position.

 

[destriero]

I converted it to a synthetic 750 straddle at 877. It's a long term position.

I am basically flat (down $300 per).

 

[BeautifulStranger]

First down day in 14.

View attachment 266092

I am 4 of 4 on your calls. Better than a double on a NOV vertical, plus $.10 on a 45 second DIDI trade(I read about shareholder lawsuits), plus 25 points on a NQ reentry, and plus 8% on a intraday AMZN calendar(I exited early because of continued supply near VWAP, like on previous days).

Thanks, big daddy!

 

[destriero]

booyah.