Long Spy, short vol: feedback welcome

[horizon]

Thanks for the update. Please keep us posted.

 

[thefuturestrader]

Wondering how this looks now, with the late pullback yesterday and being flat today.

 

[deltaf0rce]

The up and out is looking much better out of the gate. But I’m long vol now. Not great.

 

[deltaf0rce]

Tried to hedge it with a box to see and it didn’t work. Didn’t get the Greeks offset evenly at all. Probably best to hedge with stock. In this case I could keep the Vol and hedge short stock. Not terrible

 

[deltaf0rce]

It’s working in spite of the structuring. Lesson learned on term selection.