Dest's "Trade Against a Pro" Trading Challenge

yc47ib said:
Dest "bought 5 lots of" "231P fly or a 132C fly", "neutral to SPX 3130", so I assume for each lot, he bought 3 SPX 3130 puts, sold 1 lower strike puts, say 3110 or 3120, and sold 2 higher strike puts, say, 3150.

Alternatively, he could have bought 3 SPX 3130 calls, sold 2 higher strike calls, say 3150, and sold 1 lower strike calls, say, 3120 or 3110.

Am I correct @Dest?

I usually sell the body and buy the wings, but since Dest said he bought, I am assuming he bought the body and sell the wings for a debit.

I believe the edge is not in setting up these structures, it is in how one close/roll/convert in steps the different legs to finally flatten these structures that makes the profit.
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I'm super dense. Where does 231P come from in your explanation?
 
destriero said:
No, it was a 231P fly with a 3120 body strike, neutral to 3132 (today).it gained 12% over the two day hold.
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If someone feels like writing out exactly the calls and puts that were bought, that would be much appreciated and I would send you good vibes through the computer.
 
nooby_mcnoob said:
If someone feels like writing out exactly the calls and puts that were bought, that would be much appreciated and I would send you good vibes through the computer.
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All that matters is the body strike, neutrality and duration. It was a Dec 13 exp.
 
destriero said:
All that matters is the body strike, neutrality and duration. It was a Dec 13 exp.
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I am dumb. I understand these words but I am unable to convert them into puts and calls so I can truly understand exactly what was done. I'm not asking you to do it, but one of the others who "gets it" maybe.
 
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