Dest's TSLA trade

taowave said:
Just out of curiousity,why did you go to a syn short straddle when you had 11-12 points in your pocket on the long??? Not trading Tesla,assuming vol was jacked?

Regardless,nice trade
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Sure, turn the screw.

The vol-line dropped as expected, but I assumed we'd hold from 240-250. I was waiting for another touch of $250, at which point I would have unwound the thing. When we broke 235 I took it off my screen. The process isn't trying to wring excess vol or that you're really looking for another vol-drop but a gain from synthetic vol... where is the vol-line going to be at n-days on a drop in stat vol?
 
i hope when dest starts his fund he can finally provide a independently audited track record.

until then i am sure his vagueness will serve it's purpose to attract investors that he says he doesn't need, lol.
 
taowave said:
Just out of curiousity,why did you go to a syn short straddle when you had 11-12 points in your pocket on the long??? Not trading Tesla,assuming vol was jacked?

Regardless,nice trade
More...

Oh, why didn't I just take the gain in shares? Yeah, I wanted to short the vol-line in the 250C (as well as microstructure edge) and I thought that I could possibly gain half the credit back on the combo ($30.3 credit on 800 straddles).

It was dumb. I have repeated that mistake trying to wring excess when it's not worth the R/R.
 
@MarkBrown -- I'll make you a deal... I'll pay for an audit of my 2017- 2019 YTD performance, and post it here, if you post your "independent audit" (sic) in which you claim 21.74% annualized.

Deal?

markbrown audit.png
 
My boss worked at oX and then later Schwab. Has a great story about a sweet older lady who had people on the customer forum mesmerized by her success buying options and working in her garden. When he took over as the series 24 supervising the forum he sensed something was wrong. She had claimed $millions in profits and had nothing in her accounts. You had to have a live account to participate in the forum. When the team reached out to her she claimed she was trading away and they threatened to boot her off the forum. She told us where she was allegedly trading and when they reached out to the firm they said they had the same concern on their customer forum she claimed her trading was occurring at oX. So they booted her off. Something like a month later the lawyers come up with an IRS request for her account(s) records. OUCH !
He also shared a story about a forum member who had a forum following and posted new trades every AM. Again $millions in profits and when they looked at his activity it was all genuine. Pretty much day trading options.
 
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