I’m in the ABNB 135/145/150 BWB, up big today! Good luck Caroy
Weekly Pin Butterfly Strategy
- Thread starter caroy
- Start date
I’m in the ABNB 135/145/150 BWB, up big today! Good luck Caroy
Week 19 - totals update
ABNB 6:12:6 135-140-145 call bot @ $1.98 sold @ $2.40 + $252
COIN 8:16:8 245-250-255 call bot @ $1.50 sold @ $0.00 -$1200
DASH 12:24:12 140-145-150 put bot @ $0.95 sold @ $0.07 -$1056
FUBO 20:40:20 21-23-25 put bot @ $0.57 sold @ $0.75 + $360
LULU 8:16:8 320-325-330 put bot @ $1.65 sold @ $2.20 +$440
MSTR 2:4:2 485-500-515 call bot @ $5.57 sold @ $0.50 - $1014
NFLX 8:16:8 500-505-510 call bot @ $1.57 sold @ $2.50 +$744
PTON 8:16:8 106-110-114 put bot @ $1.68 sold @ $1.81 + $104
QS 7:14:7 25-28-31 call bot @ $1.21 sold @ $1.57 + $252
RBLX 8:16:8 95-100-105 call bot @ $1.47 sold @ $0.08 - $1112
RIOT 8:16:8 26-30-34 call bot @ $1.50 sold @ $2.25 +$600
ROKU 3:6:3 340-350-360 call bot @ $4.16 sold @ $6.50 +$468
P/L: -1162 Commissions: 314 Total P/L: -$1476
Winning Trades: 8/12 YTD Winning Trades: 64/94
avg winner: $402.50 avg loser: $1095
Performance YTD: Up 2.5%
Take Away:
ABNB 6:12:6 135-140-145 call bot @ $1.98 sold @ $2.40 + $252
COIN 8:16:8 245-250-255 call bot @ $1.50 sold @ $0.00 -$1200
DASH 12:24:12 140-145-150 put bot @ $0.95 sold @ $0.07 -$1056
FUBO 20:40:20 21-23-25 put bot @ $0.57 sold @ $0.75 + $360
LULU 8:16:8 320-325-330 put bot @ $1.65 sold @ $2.20 +$440
MSTR 2:4:2 485-500-515 call bot @ $5.57 sold @ $0.50 - $1014
NFLX 8:16:8 500-505-510 call bot @ $1.57 sold @ $2.50 +$744
PTON 8:16:8 106-110-114 put bot @ $1.68 sold @ $1.81 + $104
QS 7:14:7 25-28-31 call bot @ $1.21 sold @ $1.57 + $252
RBLX 8:16:8 95-100-105 call bot @ $1.47 sold @ $0.08 - $1112
RIOT 8:16:8 26-30-34 call bot @ $1.50 sold @ $2.25 +$600
ROKU 3:6:3 340-350-360 call bot @ $4.16 sold @ $6.50 +$468
P/L: -1162 Commissions: 314 Total P/L: -$1476
Winning Trades: 8/12 YTD Winning Trades: 64/94
avg winner: $402.50 avg loser: $1095
Performance YTD: Up 2.5%
Take Away:
- Not happy with a losing week but losses were smaller than last week and still up for the YTD since implementing the strategy. Staying positive and honing the strategy.
- Looking at average losers it becomes imperative I need to limit these losses and avoid max loss on a position which occurred a couple of times. Wanting them to come back and legging out probably isn't worth it. A fade or reversal may happen after the opening move but not likely.
- Although some of the smaller winners started off the day as losers and became winners.
- Screwed around with RBLX and DASH till the end which was a fool's errand. DASH as pointed out was probably a poor set-up.
- Headed off to take the girlfriend camping for the holiday weekend. She's never been. I've explained the most essential part is to dig the scat hole downwind. Plus she's never had corned beef hash and when you camp it's essential along with shitty beer and sunflower seeds. Should be an entertaining weekend.
Have a great weekend and I sure hope she is still your girlfriend by Monday. The wind can shift directions as you know.
Week 20 - Update
Entered and Exited Morning of 6/3
ABNB 4:8:4 145-150-155 call bot @ $1.31 sold @ $1.63 +$128
SPY 10:20:10 413-417-421 put bot @ $1.25 sold @ $1.20 -$50
TSLA 11:22:11 592.5-600-607.5 call bot @ $1.15 sold @ $1.30 +$165
Hold overnight 6/4
ABNB 8:16:8 145-150-155 call bot @ $1.43
APPS 12:24:12 67-70-73 call bot @ $0.90
BABA 7:14:7 215-220-225 call bot @ $1.82
CHWY 8:16:8 72-75-78 put bot @ $1.55
CZR 8 Ironfly 107-110-113 sold @ $1.74
DASH 10:20:10 140-145-150 call bot @ $1.27
FUTU 6:12:6 142-150-157.5 call bot @ $2.41
MRNA 6 Ironfly 195-200-205 sold @ $3.37
MSTR 5:10:5 490-500-510 call bot @ $2.60
NKE 10 Ironfly 133-135-137 sold @ $1.03
PENN 10:20:10 76-79-82 put bot @ $1.32
SPY 5:10:5 413-417-421 put bot @ $1.33
See what tomorrow brings.
Entered and Exited Morning of 6/3
ABNB 4:8:4 145-150-155 call bot @ $1.31 sold @ $1.63 +$128
SPY 10:20:10 413-417-421 put bot @ $1.25 sold @ $1.20 -$50
TSLA 11:22:11 592.5-600-607.5 call bot @ $1.15 sold @ $1.30 +$165
Hold overnight 6/4
ABNB 8:16:8 145-150-155 call bot @ $1.43
APPS 12:24:12 67-70-73 call bot @ $0.90
BABA 7:14:7 215-220-225 call bot @ $1.82
CHWY 8:16:8 72-75-78 put bot @ $1.55
CZR 8 Ironfly 107-110-113 sold @ $1.74
DASH 10:20:10 140-145-150 call bot @ $1.27
FUTU 6:12:6 142-150-157.5 call bot @ $2.41
MRNA 6 Ironfly 195-200-205 sold @ $3.37
MSTR 5:10:5 490-500-510 call bot @ $2.60
NKE 10 Ironfly 133-135-137 sold @ $1.03
PENN 10:20:10 76-79-82 put bot @ $1.32
SPY 5:10:5 413-417-421 put bot @ $1.33
See what tomorrow brings.
What? No report on the camping trip? We have been holding our breath --- huh sure hope your GF did not have to hold hers 
@easymon1 I use primarily the largest Open Interest at strikes as the place to set the body. If there is a large disparity. Sometimes deviate based on charts for example up three days looking for a reversion. I'm learning from some others on some different indicators I might use as well. Look primarily for implied volatility in the higher range to maximize the greeks converging.
@IlliniTrader Good question. We survived and are still together. A few notes: Sandy Ridge State park is an interesting place as the Illinois river deposited large amounts of sand and there are actually cacti that grow in central Illinois there. Downside full of ticks. Pulled seven off my dog and about ten off myself the next day. Inspected the boys thoroughly as I don't want a doctor lancing anything off down there. Apparently, Horseman's Loop is actually for people who have horses. We were the only ones who did not. My dog, the aptly named "Butters" thought they were large dogs. She also howled at coyotes all night - what's a city dog to do? Never did campfire coffee taste so good in a frigid under 40 degrees morning on Sunday with some corned beef hash in the cast iron skillet. But hey some time away in nature is good for the soul and the gal pal was a trooper with a few miles of hiking. She's up for another camping adventure - thinking Garden of the Gods down in southern Illinois. I here it's pretty stunning. Think she caught the bug.
@IlliniTrader Good question. We survived and are still together. A few notes: Sandy Ridge State park is an interesting place as the Illinois river deposited large amounts of sand and there are actually cacti that grow in central Illinois there. Downside full of ticks. Pulled seven off my dog and about ten off myself the next day. Inspected the boys thoroughly as I don't want a doctor lancing anything off down there. Apparently, Horseman's Loop is actually for people who have horses. We were the only ones who did not. My dog, the aptly named "Butters" thought they were large dogs. She also howled at coyotes all night - what's a city dog to do? Never did campfire coffee taste so good in a frigid under 40 degrees morning on Sunday with some corned beef hash in the cast iron skillet. But hey some time away in nature is good for the soul and the gal pal was a trooper with a few miles of hiking. She's up for another camping adventure - thinking Garden of the Gods down in southern Illinois. I here it's pretty stunning. Think she caught the bug.