Vanzandt vs. Destriero Trading Competition

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Notes on the pre-holiday trading are short. GOOGL was in the crapper all day and will reverse half of this move on Thursday. I'd be long GOOGL here but got busy with other things before the early-close. All primary positions gained today. I will go long GOOGL if it's not up more than $6 at the open.
 
humbletrader2016 said:
When I see traders keep saying something like "I should have..." or "I could have...", it proves to me that he/she has no professional trading skills because he speculates too much for himself. So far, this competition only confirms what I already believed in :D:D:D
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They have a bar at the Del Mar Racetrack aptly named Shoulda Woulda Coulda!
 
Hi
wow. Very interesting thread. These butterflies are different. When I first saw one I though it was a broken wing butterfly because have more contracts in one side. But
the maxim lose is the same one side and another.
I suppose you have explained why a thousand of times. I will follow this thread very carefully.

Thank you.
 
raf_bcn said:
Hi
wow. Very interesting thread. These butterflies are different. When I first saw one I though it was a broken wing butterfly because have more contracts in one side. But
the maxim lose is the same one side and another.
I suppose you have explained why a thousand of times. I will follow this thread very carefully.

Thank you.
More...


Thanks for following.

The (OTM) wing strike is half the distance to maintain the debit req. I started to use them analytically for quoting R/R before trading them. I use a different skew-valuation now, but I trade these more than classic 121 flies and calendars.

I use a directional model for single-names (no skew model) and both directional and skew/stickiness models for index. Generally they (132s/231s) are best utilized as bear positions in index over longer-duration holds.
 
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raf_bcn said:
Hi
wow. Very interesting thread. These butterflies are different. When I first saw one I though it was a broken wing butterfly because have more contracts in one side. But the maxim lose is the same one side and another.
I suppose you have explained why a thousand of times. I will follow this thread very carefully.
More...


I like to break them down into easier-to-visualize components. 1-3-2 butterfly into:
  • 1-2-1 Butterfly. Maximum loss equal on either side.
  • 0-1-1 Credit spread. Maximum loss on the right hand side.
Together the 1-3-2 butterfly has a greater loss on the right.
 
OptionsOptionsOptions said:
I like to break them down into easier-to-visualize components. 1-3-2 butterfly into:
  • 1-2-1 Butterfly. Maximum loss equal on either side.
  • 0-1-1 Credit spread. Maximum loss on the right hand side.
Together the 1-3-2 butterfly has a greater loss on the right.
More...

Incorrect.
 
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