Riskarb's combo to fly conversion journal
- Thread starter riskarb
- Start date
I'd say we'll see a 35-40% or so haircut in IV's come tomorrow. with the stock hovering around 123 and the weekend around the corner, shouldn't you be collecting at least $6-$8 sometime in the afternoon??
LOL
You are losing me and I know this is non-Greek English!
At vol of 60% and s= $120, the straddle will be worth $18.00 or so. I will look at the wings to see if it is worth converting. I assume the call wings would get crushed but the puts will still have some duckets in em.
EDIT: Watching repeat of Cramer, he is talking to an analyst about ISRG! 1 Line mention and nothing really, he moved on to another stock lol. He is useless.
At vol of 60% and s= $120, the straddle will be worth $18.00 or so. I will look at the wings to see if it is worth converting. I assume the call wings would get crushed but the puts will still have some duckets in em.
EDIT: Watching repeat of Cramer, he is talking to an analyst about ISRG! 1 Line mention and nothing really, he moved on to another stock lol. He is useless.
ISRG
Sold Feb $130 Straddle @ $21.70 (104% vol)
Bought 115/145 Strangle @ $4.30 (~63% vols)
Iron Fly (115/130/145) legged into for net credit of $2.40.
Sold Feb $130 Straddle @ $21.70 (104% vol)
Bought 115/145 Strangle @ $4.30 (~63% vols)
Iron Fly (115/130/145) legged into for net credit of $2.40.
Uh oh
Because I want to get a better feel for these positions. I jumped out of the OIH and ACL positions prematurely. If I really want to understand this strategy and determine if I want to do regular positions I want to test the waters. Since the ISRG has a guaranteed profit already I converted and will let it ride the next two weeks.
I do not want to get into the habit of just selling naked straddles and covering.
I do not want to get into the habit of just selling naked straddles and covering.