Tryin to close at 64.00 but sitll sitting there...
The butterfly megathread
- Thread starter VixTraderdf
- Start date
Shit like NYFANG seems to trade "by appointment" and ceases to trade altogether on big down days.
Cannot close and refuse to lower my price so let us see if market drops again tomorrow and I let get close to expiration and close it out for more money.
ok rolling the dice into a sideways to down market tomorrow to close the FLY...
Going to let it run more today and see if I can get a middle strike pin on the FANG Fly... out part of the morning so will just let it sit a bit.
Looks like the position is settling at $70.00 for a profit of $35.40 per contract or over 100% return.
Attachments
For those wondering about the settlement and are new to FLYS and how I came to that figure remember the strikes:
BOT +1 BUTTERFLY NYFANG 19 OCT 18 2660/2570/2550 PUT @34.60 AMEX
So +2660 -2570 +2550
SInce FAN is below 2550 into the close here it looks like settlement will be at intrinsic value with all strikes expiring at intrinsic value:
2660 strike minus 2570 strike = +$90
2570 strike minus $2550 strike = -$20
Net difference is +$70
I paid $34.60
Gross Profit = $35.40 or $3,540 per FLY.
BOT +1 BUTTERFLY NYFANG 19 OCT 18 2660/2570/2550 PUT @34.60 AMEX
So +2660 -2570 +2550
SInce FAN is below 2550 into the close here it looks like settlement will be at intrinsic value with all strikes expiring at intrinsic value:
2660 strike minus 2570 strike = +$90
2570 strike minus $2550 strike = -$20
Net difference is +$70
I paid $34.60
Gross Profit = $35.40 or $3,540 per FLY.
Just got filled on the following /ES FLY expiring next week:
Risk graph below :
Risk graph below :
Nice spike down in ES. Closed the FLY for 47.25 for profit of 7.25 or $350 per FLY. Nice and easy in and out although was not expecting it to run so much today. Will post the screen shot of the fill when I am back home.