VIX fly / spread journal

Quote from weezy:


#4 disregard 1-3, as I am entirely full of that brown stinky stuff.
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Time for a new nick, weez. Native spreads trade in nickel increments, is that so?
 
Quote from cdcaveman:

thanks Weezy.. i guess a few of us here have followed suit with what other elder generation vol traders on ET have described.. .. (at least the ones i talk to, i completely blame them haha) they trade their own account and have never been on the floor.. i personally would love the experience.. i have heard mostly "body" and i personally describe a fly that way respectively.. short body, long body... short body = long vol long body = short vol..
saying long butterfly or short butterfly can cause me confusion outside of options on equities.
switches is another term we use for single calender spreads... layering them on flys for different expressions on the market.. local ET slang from the degens.. degenerates...

i use Interactive brokers as a few of my friends on here do as well.. i'm a very easily confused beginner..

all i know is .10 cent change in switch equals a hundred bucks in or out of my pocket.. same with a fly.
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You want to pull your head out of your ass now? Thanks for your support.
 
Quote from Jgills:

i'm aware of #1 and #2, no one seemed to have a problem w my notation here, but i will agree with you on the fma part, that would be confusing. i will state the months or use the month codes going forward.
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I wouldnt take advice from someone who isnt familiar with simple contract specs. Everyone i know who trades these refers to them by months or duration not symbols so feel free to call your flies as you wish, anyone with half a brain who can pull up a quote understands what you are talking about.
 
Quote from rallymode:

I wouldnt take advice from someone who isnt familiar with simple contract specs. Everyone i know who trades these refers to them by months or duration not symbols so feel free to call your flies as you wish, anyone with half a brain who can pull up a quote understands what you are talking about.
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When I was on the institutional side, we even did ES rolls by month (for example: Dec-Mar roll).

Maybe the futures guys translated that for the floors. That I don't know.
 
Quote from rallymode:

I wouldnt take advice from someone who isnt familiar with simple contract specs. Everyone i know who trades these refers to them by months or duration not symbols so feel free to call your flies as you wish, anyone with half a brain who can pull up a quote understands what you are talking about.
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you're right.

thanks all for clarifying the notation. now that i've got everyone's attention... are there any opinions on why the jun/jul spread is the widest 1m spread on the curve?
 
Jgills & cdcaveman- I do see the synthetic VIX spreads trade in $10 increments. I stand corrected on this. nice get.

SLE chimed in with his 2 cents but me thinks I hear crickets...with relation to his post.:eek: :
 
Quote from weezy:

Jgills & cdcaveman- I do see the synthetic VIX spreads trade in $10 increments. I stand corrected on this. nice get.

SLE chimed in with his 2 cents but me thinks I hear crickets...with relation to his post.:eek: :
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I see no prob with what sle said- i work on an OTC desk and thats where i learned the lingo. I dont think sle needs recognition to feel his post mattered. If you have nothing productive to say on the topic of the thread can you please stop posting here
 
Quote from Jgills:

you're right.

thanks all for clarifying the notation. now that i've got everyone's attention... are there any opinions on why the jun/jul spread is the widest 1m spread on the curve?
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Why did you do jun/jul?
 
Quote from weezy:

Jgills & cdcaveman- I do see the synthetic VIX spreads trade in $10 increments. I stand corrected on this. nice get.

SLE chimed in with his 2 cents but me thinks I hear crickets...with relation to his post.:eek: :
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Somehow you trade this stuff, ostensibly in some professional capacity, yet you don't know the spreads trade in pennies? How is that possible?

You're going to wait for it to go 65x70 here?

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