Karen the Supertrader - TastyTrade Hybrid Experiment

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Yeah like I got smoked out during Bre
i960 said:
Of course there is a relationship - anyone who understands anything about option greeks already knows that. That doesn't change the fact that you're still way more short vol than anything else. All it'll take is one gap down open that doesn't come back to smoke you out.
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Yes like the time I got smoked out during Brexit! Oh but wait, I didn't did I? Love your logic!
 
Sweet Bobby said:
Yeah like I got smoked out during Bre

Yes like the time I got smoked out during Brexit! Oh but wait, I didn't did I? Love your logic!
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How many times has it been pointed out that you had your ass saved during the post Brexit rally. That's not even normal behavior or anything that can be depended upon.

A much better example would have been 8/24/15 whereby you either would have bailed out due to already getting beat down on 8/22-8/23 or absolutely would have gotten smoked on the 24th.

You're basically short vol at VIX16 and heavily dependent on the status quo continuing with basically zero protection against any black swan let alone a gap down.
 
i960 said:
How many times has it been pointed out that you had your ass saved during the post Brexit rally. That's not even normal behavior or anything that can be depended upon.

A much better example would have been 8/24/15 whereby you either would have bailed out due to already getting beat down on 8/22-8/23 or absolutely would have gotten smoked on the 24th.

You're basically short vol at VIX16 and heavily dependent on the status quo continuing with basically zero protection against any black swan let alone a gap down.
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You are a broken record. Give me time and let me bow up, ok? I don't need your constant reminder. It's getting very old.
 
Sweet Bobby said:
You are a broken record. Give me time and let me bow up, ok? I don't need your constant reminder. It's getting very old.
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Or you could listen to some of the advice given in thread and avoid blowing up. You don't have the holy grail.
 
Sweet Bobby said:
You are a broken record. Give me time and let me bow up, ok? I don't need your constant reminder. It's getting very old.
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You keep thinking we're trying to shit talk you because we don't like you or something. That isn't it. What it is is that this strategy has already been beaten to death over the years and it always ends up the same: lots of pain when the market throws a curve ball that doesn't come back. You either have to have great intestinal fortitude/margin to double down on it (crazy) or ride it out (unlikely unless you love pain or happen to totally luck out [brexit]), or close and take a huge hit - erasing a significant chunk (potentially even all or more) of prior gains.
 
Bobby--from what I can see from your log, you're currently short 6 puts and 12 calls. This seems a little aggressive at first blush given a $184k NL while 6 contracts represents ~$640k in notional. I would reduce sizing to 4 x 8. To maintain your theta, you could be more aggressive with your strikes with more straddles or tighter strangles.

I just wouldn't be comfortable with a notional/NL ratio greater than 2.5.
 
I am pleased to announce that the experiment is now complete and the proof of concept was a success according to my standards.

There is no need to further debate the merits of the strategy and I feel that such debates add nothing to my body of knowledge.

Thanks to everyone who participated in the discussion and tried to offer constructive comments regarding my strategy.

I will be restricting access to my trade log in the coming days. If you would like to continue studying the trades and my spreadsheet, please send me an email request at bethandbob203@yahoo.com.

Best wishes and happy trading to all!

Bobby
 
atrp2biz said:
Bobby--from what I can see from your log, you're currently short 6 puts and 12 calls. This seems a little aggressive at first blush given a $184k NL while 6 contracts represents ~$640k in notional. I would reduce sizing to 4 x 8. To maintain your theta, you could be more aggressive with your strikes with more straddles or tighter strangles.

I just wouldn't be comfortable with a notional/NL ratio greater than 2.5.
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I like your thinking!
 
i960 said:
You keep thinking we're trying to shit talk you because we don't like you or something. That isn't it. What it is is that this strategy has already been beaten to death over the years and it always ends up the same: lots of pain when the market throws a curve ball that doesn't come back. You either have to have great intestinal fortitude/margin to double down on it (crazy) or ride it out (unlikely unless you love pain or happen to totally luck out [brexit]), or close and take a huge hit - erasing a significant chunk (potentially even all or more) of prior gains.
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You don't understand, this time it's different.
 
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