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CodyParticipant
Doesn’t it probably make sense to buy back the Oct short call at this level?
CodyParticipantSteve – This is working out nicely so far, but I am curious about something. TOS is showing me that the position currently has negative theta, but we are inside the tent. It seems like theta should be positive. Do you know why this is?
CodyParticipantSteve are you still planning on an AMZN income calendar?
CodyParticipantI’m not seeing 1.30 for that call spread, it looks like we’d need a good amount more pullback for that to fill. I’m seeing 1.80 or so.
CodyParticipantAny reason this wouldn’t work on SPY with 207? Only reason I ask is that when I priced it I sort of expected it to cost about 1/10 of SPX, or $1.50, but it’s showing me about $1.80.
CodyParticipantJust want to clarify on the half size piece of this and how it relates to the add points of 1135 and 1165. If/when we hit 1135, you’ll add the new fly but again at half size just like the initial and then add the other half on a run up that’s slightly higher but not quite up to the next add point of 1165? If I’m thinking about it correctly then if all add points were hit you have to plan for 6 buys in total, correct? If that’s the case I may look at IWM to scale down the capital required.
CodyParticipantHey Steve, is the MA Deviation study that you’ve had on in a few of the recent market wraps one that you created yourself? I don’t see it in my TOS study list.
CodyParticipantGreat call on putting on the hedge Steve. Looking at some analytics this morning, I’m showing enough profit from the calls to cover the current loss on the original 950/1000/1050 fly just like you mentioned in the post above. So it seems like it would make a lot of sense to close/roll that up to something like 1030/1080/1130 next week. Unbalancing it could make sense too, like the 1030/1080/1120 which would flatten out some of the short delta, but it does decrease profit potential on a pullback. Curious to see where we end up on this one.
CodyParticipantLooking to short BA here and just trying to figure out the best way to do so…
Call credit spreads might be tricky because May 145/150 probably doesn’t give enough credit yet, and 140/145 might be a little too close.
Scaling put calendars starting with 125 and adding 130 if it squeezes higher maybe?
Keeping it simple I guess we could just look at buying puts as well…
CodyParticipantI want to expand on or I guess be more specific on Marco’s question above about “max delta” for delta band adjustment technique because I’ve wondered the same. As an example, if I’m modeling an IC in TOS and I switch the mode from P&L to delta, and then day step +4, it becomes obvious that “max delta” will vary depending on time in the trade (and I suppose this is just a visualization of charm). But when you are just entering a trade and looking for that “max delta” figure to divide by 2, are you using the max today at entry? In 2 weeks? In 30 days?
CodyParticipantHello
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