SLV took another 5% dump and the position has deteriorated some more. The great news is that the losses are relatively small despite the fact that May short straddle strike is 16% away now :eek:
no pretty pictures today
Unrealized PL in the last several days: -5 > -70 > -54 > +23 > +45 > -52 > -136 > -39 > -106
p.s. i checked out the gamma scalping article. the approach totally fits with the type of trading i like to do. but i will still need to read some on those delta, gamma, etc before i could actually do it. for now i am stuck with selling sh*tloads of straddles (with wings) and trying to adjust positions by eye.
also, for SLV i have started to experiment with calendar diagonals as somebody suggested earlier in the thread.
no pretty pictures today
Unrealized PL in the last several days: -5 > -70 > -54 > +23 > +45 > -52 > -136 > -39 > -106
p.s. i checked out the gamma scalping article. the approach totally fits with the type of trading i like to do. but i will still need to read some on those delta, gamma, etc before i could actually do it. for now i am stuck with selling sh*tloads of straddles (with wings) and trying to adjust positions by eye.
also, for SLV i have started to experiment with calendar diagonals as somebody suggested earlier in the thread.
- the move in SLV was too big. adjusting the sides or constructing similar positions some distance away from the original May strike would have made money.