From TradeAlert

[ajacobson]

https://media.licdn.com/dms/image/D...t=hke06AuNZjw7EDu6c8ntAaKVDxmAwTMTd8b1HyQCE4U

 

[FSU]

What I think is really interesting here is they say that "open close data confirms customer side" They say they know the customer sold the butterfly.

I didn't know this information was available, that you could tell that the order was a customer and whether it was opening or closing.

 

[cesfx]

Is that an ITM short put butterflies traded 10min before expiry?

 

[cesfx]

I am still trying to understand the trade, how did they get $1.35cr fill for that size that late?

If I put it on now I see about -0.50 mid

Was it possible because the options had 10min left before close?

 

[2rosy]

are the likes for that butterfly because it made a profit? what was the edge? what was happening in other related markets at the time?

 

[newwurldmn]

I'm guessing the edge was in microstructure. He was able to trade one leg and covered with the others.

 

[wxytrader]

are the likes for that butterfly because it made a profit? what was the edge? what was happening in other related markets at the time?

Butterfly's are garbage trades...basically the options version of a lottery ticket.

 

[cesfx]

Butterfly's are garbage trades...basically the options version of a lottery ticket.

Then short them and reverse the win rate.

 

[2rosy]

Butterfly's are garbage trades...basically the options version of a lottery ticket.

that butterfly told me there was a 27% chance that SPX closed at 5245

 

[wxytrader]

Then short them and reverse the win rate.

Because the RW is also reverse.