The Beauty of Options - Portfolio Insurance at a Discount

Chef,one flat day,one good mark didn't mean he doesn't have decay..He has it,he simply refuses to acknowledge it..

If he constantly adjusts his theta to be flat,then whats he left with? I already broke his strategy down..Yes,he has a form of insurance,and there is a price to pay for that privilege..Theta

Im not judging his strategy...




ironchef said:
Theta and delta neutral have to be constantly adjusted. If he had zero decay for that day, he effectively had theta neutral? If so he could constantly adjust going forward to keep zero decay?

I am posting them as questions instead of statements because I don't know.
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8 posts in and you are giving free advice...for 100 bucks monthly:)


Marcelino said:
I can’t believe this is still going on. But while I may understand the main characters have overgrown egos and just can’t give up, I don’t know what the audience is expecting to get out of it. Guys, get real and stop wasting your time; you are not going to learn to trade options from dest or bobby. Won’t comment on their skill level, I’ll only say they are not here to teach you, they don’t have even the slightest intention. And nobody has on this forum.

Anyway thank you Bobby for starting this thread. Great and unexpected outcome for me. Your mention about Ron Bertino made me revisit some old links and videos and rediscovered a forgotten one: Theotrade. I’m not talking here about the free videos on youtube. For 100 a month you will get more well-organized material than you can handle. Subscribed now and hooked. Just wanted to give you free advice.
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taowave said:
Chef,one flat day,one good mark didn't mean he doesn't have decay..He has it,he simply refuses to acknowledge it..

If he constantly adjusts his theta to be flat,then whats he left with? I already broke his strategy down..Yes,he has a form of insurance,and there is a price to pay for that privilege..Theta

Im not judging his strategy...
More...
Thanks. I actually understood what you and @destriero were saying. I was just thinking out loud.

We amateurs are not complete idiots. After a while we learned to read between the lines and did learn a few tricks here and there.

I really appreciate your kindness. Take care.
 
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ffs1001 said:
I normally try and stay away from pointless arguments on the net with strangers I'm never going to meet regarding things which aren't that important......but boy-oh-boy, am I enjoying the humiliation that @destriero is suffering here.

As childish as this is, once in a while, such things are necessary as a stress-relief mechanism.

Kudos to @Sweet Bobby
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Thank you, ffs. It felt good to kick Opie’s buck-toothed ass!
 
Marcelino said:
I can’t believe this is still going on. But while I may understand the main characters have overgrown egos and just can’t give up, I don’t know what the audience is expecting to get out of it. Guys, get real and stop wasting your time; you are not going to learn to trade options from dest or bobby. Won’t comment on their skill level, I’ll only say they are not here to teach you, they don’t have even the slightest intention. And nobody has on this forum.

Anyway thank you Bobby for starting this thread. Great and unexpected outcome for me. Your mention about Ron Bertino made me revisit some old links and videos and rediscovered a forgotten one: Theotrade. I’m not talking here about the free videos on youtube. For 100 a month you will get more well-organized material than you can handle. Subscribed now and hooked. Just wanted to give you free advice.
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Hello Marcelino,

You will find me each day in the futures room! Hope to see you there!

SB
 
manic said:
Is SPX the ideal underlying for this short ratio diagonal strategy? If the goal is to find that something that will move dramatically during a crash and rarely grind sideways, wouldn't something like UVXY be a good option? You would instead do this strategy with calls.
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Hello Manic. Yes, SPX is ideal for this starry. For now, I’m trading /ES in this account, but I will switch to SPX once I have portfolio margin.
 
Marcelino said:
I can’t believe this is still going on. But while I may understand the main characters have overgrown egos and just can’t give up, I don’t know what the audience is expecting to get out of it. Guys, get real and stop wasting your time; you are not going to learn to trade options from dest or bobby. Won’t comment on their skill level, I’ll only say they are not here to teach you, they don’t have even the slightest intention. And nobody has on this forum.

Anyway thank you Bobby for starting this thread. Great and unexpected outcome for me. Your mention about Ron Bertino made me revisit some old links and videos and rediscovered a forgotten one: Theotrade. I’m not talking here about the free videos on youtube. For 100 a month you will get more well-organized material than you can handle. Subscribed now and hooked. Just wanted to give you free advice.
More...
Just browsing Dest history has taught me quite a bit very quickly. Enough to go try some setups in the sim, hit google and fuck around. Nobody worth their salt gets the fish put on the hook.

conventional and unbalanced flies, diagonal, local vs implied vol from dest. Local via the PowerPoint from Tao.
Get a clue man. Stop paying some dude to post trades for you and open a book like he said. If you can’t pick up Natenburg I’ll trade otc with you all day. Just post your brokers phone number and I’ll take care of the rest
 
My pleasure IC..

You are far from a knuclehead,and certainly not an amateur...

This is a tuff game


ironchef said:
Thanks. I actually understood what you and @destriero were saying. I was just thinking out loud.

We amateurs are not complete idiots. After a while we learned to read between the lines and did learn a few tricks here and there.

I really appreciate your kindness. Take care.
More...
 
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