nice job..i covered a bunch of long dec vol at very good gains also.
VIX fly / spread journal
- Thread starter Jgills
- Start date
nice job..i covered a bunch of long dec vol at very good gains also.
Actually its worse, we are down 20 handles since the call. The loss would have been disproportionate if the ES had rallied 20. I never understood why trade the front spread this close to spot when a simple ES short or long would be better in risk terms. Even as a hedge to short vol elsewhere.
Nevertheless, i am glad it worked out and was profitable.
started with "es has to be down 20-30 to make money" to es is down 10 what do u expect?
are u here to troll me or what?
es was down 5 handles (from the close) and the spread traded 0.51. thats down 50c on day. i got out at 77. my avg px was 1.08, so 31c gross pnl. i agree its down 10 now and spread is a bit wider than earlier, it is what it is and i'll be keeping my eye to add again if conditions are right.
maybe rally is right and i need to re-think it and i'm being fooled by sp direction, but its hard to tell.
Quote from drownpruf:
Yeah, I don't get the hyperbole. Spread is up a dime at mid (today, marked to this post) with cash up 0.73 on a selloff.
gosh..he made like 30 cents in a few days.
why attack so much?
i stand by my belief there was always little downside but a ton of upside in the trade, even as isolated.
As Rally stated, ES is down 20 since you posted the trade. You act as though you bought CDS and they paid off.
Yeah, it traded down to 51 for exactly one minute this morning. I don't get your point. It's been 85 mid most of the day with ES now down 12. You got an out solely due to a cash rise of 80 cents as a result of the spooz taking a healthy shit. And it's 85 now with futures near the low (ES).
Delude yourself into thinking it doesn't matter. Whatever.
