Trading the Iron Condor Strategy for monthly income

carson_volsignals said:
Try telling that "loss avoidance" thing to the guys who ran UBS' CYES or Harvest's IC products.

Top shops don't "roll" anymore- this is why the market (which was always = dealers long gamma) is actually behaving like dealers are long gamma.
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Yeah, we’re talking newbs on a website for retail.

What you’re stating above is contradictory. Yes, dealer gamma is always long (present time). Top shops, lol. Offering an IC product to 600 HNW idiots means what, exactly?
 
destriero said:
Yeah, we’re talking newbs on a website for retail.

What you’re stating above is contradictory. Yes, dealer gamma is always long (present time). Top shops, lol. Offering an IC product to 600 HNW idiots means what, exactly?
More...
Not following.

To be clear, what I meant to say:

dealer gamma, with respect to spot, is generally long gamma/GEX 5% around the money. Of course some nuance as spot moves between positioning resets- but I'm sure you'd agree

the "always" was not with respect to spot or to suggest they are currently always long gamma. The point was that dealers have been 'long' gamma for years now, above spot -and below. The whole neg/pos GEX "S" profile is not just naive, but misleading.

The difference is, the sellers of the options have changed not only their strike/term selection, but also their bet size/concentration function; and MOST importantly they have largely abandoned their tactical, defensive interventions.

Agree?
 
carson_volsignals said:
Not following.

To be clear, what I meant to say:

dealer gamma, with respect to spot, is generally long gamma/GEX 5% around the money. Of course some nuance as spot moves between positioning resets- but I'm sure you'd agree

the "always" was not with respect to spot or to suggest they are currently always long gamma. The point was that dealers have been 'long' gamma for years now, above spot -and below. The whole neg/pos GEX "S" profile is not just naive, but misleading.

The difference is, the sellers of the options have changed not only their strike/term selection, but also their bet size/concentration function; and MOST importantly they have largely abandoned their tactical, defensive interventions.

Agree?
More...


Generally, yeah.
 
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