What Option Strategy Do You Use?

How Do You Trade Options

  • Total voters
    24
  • Poll closed .
taowave said:
Are you referring to Flys??

Flys are not necessarily Long gamma/Vega,esp ATM

They can be structured as such

Think about it
More...
Thanks. I have to think about it more.

For a decade, I made good money long single legs, i.e., long gamma/vega(?)

I have good positive expectancy but thought I might juice it even more if I could use butterfly to help pay for the longs. It has been on my to do list for a while.
 
Meh, I would look at Verts before flys,which are what Bflys are composed of..

Especially if you are a decent directional trader..

Don't want to be right ,but wrong, as the stock blows thru your upper long wing..




ironchef said:
Thanks. I have to think about it more.

For a decade, I made good money long single legs, i.e., long gamma/vega(?)

I have good positive expectancy but thought I might juice it even more if I could use butterfly to help pay for the longs. It has been on my to do list for a while.
More...
 
I wish I could go naked... Might be too shy.

For tomorrow CPI I created a 6 legs monster :D

Selling the 5120 SPX ATM straddle tomorrow Tuesday exp, and buying x2 ratio of otm strangle wings at different strikes, 5070p+5090p/5150c+5170c for the day after.

I understand vol crush post event will eat away at my longs too, but I feel like I have paid around 6$ for a strangle on CPI.

Similar strike strangle (5070-5170) with tomorrow exp would cost 17$

I am not expert and this might be just that, a monster.
 
What did you take in on this monster??

Short the straddle ,long 2 +1 dte wings on both sides.

I see what you are doing :)










cesfx said:
I wish I could go naked... Might be too shy.

For tomorrow CPI I created a 6 legs monster :D

Selling the 5120 SPX ATM straddle tomorrow Tuesday exp, and buying x2 ratio of otm strangle wings at different strikes, 5070p+5090p/5150c+5170c for the day after.

I understand vol crush post event will eat away at my longs too, but I feel like I have paid around 6$ for a strangle on CPI.

Similar strike strangle (5070-5170) with tomorrow exp would cost 17$

I am not expert and this might be just that, a monster.
More...
 
I've been trading options for a few years myself, and while I started with covered calls, I find myself leaning more towards directional plays with single legs these days too. Maybe it's a retail thing, but I get it. Looking forward to seeing your poll's results.
 
ivyluk said:
I've been trading options for a few years myself, and while I started with covered calls, I find myself leaning more towards directional plays with single legs these days too. Maybe it's a retail thing, but I get it. Looking forward to seeing your poll's results.
More...
You can click and see the results.

Less buyers (long single leg, directionals) than the other two categories, rightly so because it is not easy to profit from buying and the win rate (mine anyway) tends to be low.
 
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