Riskarb's combo to fly conversion journal

[timbo]

Quote from momoneythansens:

YW.

RE: Natenburg. The writing style and format is just too dated for my taste - needs urgent updating! It is a chore and whilst I believe anything worth having requires effort, the text could be made a lot more accessible IMO.

For this reason, only really skimmed through it once myself LOL. Though I know where the good bits are if I need it.

Dated my ass. Shelly's book is probably the best layman's option book on the market -- albeit, simplistic, but damn good.

 

[momoneythansens]

Being dated in writing style and format, which I asserted and is my personal opinion, certainly does not preclude it from being a good book or having excellent content, which it does IMO. The two are not mutually exclusive LOL

Quote from timbo:

Dated my ass. Shelly's book is probably the best layman's option book on the market -- albeit, simplistic, but damn good.

 

[timbo]

Quote from momoneythansens:

Being dated in writing style and format, which I asserted and is my personal opinion, certainly does not preclude it from being a good book or having excellent content, which it does IMO. The two are not mutually exclusive LOL

If you think it's a good book, then don't blow it off as dated material. It's a simple read. Basic stuff. Our language hasn't changed much since the 90's.

But you're right, your comments fill the null space.

 

[El OchoCinco]

He never said the material was dated, I think his explanation was quite clear of what he meant. It is a good book but it is pretty dry to read.

Quote from timbo:

If you think it's a good book, then don't blow it off as dated material. It's a simple read. Basic stuff. Our language hasn't changed much since the 90's.

But you're right, your comments fill the null space.

 

[ChrisM]

Riskarb,

do you keep any statistics of this strategy in long term run e.g. win/lose, %profitable, DD etc. ?

 

[riskarb]

Quote from ChrisM:

Riskarb,

do you keep any statistics of this strategy in long term run e.g. win/lose, %profitable, DD etc. ?

No, I don't have the breakdown beyond portfolio. I don't have stats per method.

 

[El OchoCinco]

Risk:

You gonna join the MRVL bandwagon? C'mon.... eveyrone is doin' it.....

Have not had time to check my scan today but would like to add another position or 2 instead of doing one at a time lol.

 

[ChrisM]

Quote from riskarb:

No, I don't have the breakdown beyond portfolio. I don't have stats per method.

Thank you. Have you been trading this for long ? Any opinions ?

 

[riskarb]

Quote from optioncoach:

Risk:

You gonna join the MRVL bandwagon? C'mon.... eveyrone is doin' it.....

Have not had time to check my scan today but would like to add another position or 2 instead of doing one at a time lol.

Ha. I was short the 65s from your initial post. I've not posted any new tickers to the thread, but I've been trading these.

 

[riskarb]

Quote from ChrisM:

Thank you. Have you been trading this for long ? Any opinions ?

Sure, for years in futures, equity and equity index. My largest single trade[excluding exotics] was a fly conversion in bond options in 1999.

If properly diversified among classes I feel there is no better strategy in terms of earning potential, but it's labor-intensive and not an income strategy per se.

The risk of carrying a large overnight gamma and vol positions requires owning some portfolio protection through some short index futures, bear risk-reversals or long VBI vol-futures -- or some active delta hedging.