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Put_Master
Registered: May 2009
Posts: 1029 |
07-27-12 11:06 PM
<<< Looks like you two guys (atticus and cdcaveman) are on a different page. Terms like butterfly, strangle, straddle, one ratio, back spreads, etc can easily be misinterpreted. This is why it's important to specify exact trade with strikes and fills. >>>
Thank you diaoptions.
I tend to skip over posts that lack the detail of exactly what was done. Particularly when it was shared only in hindsite vs real time.
I'm not talking about anyone in particular.
Just generalizing that when posters are willing to share their trades.... but NOT during the day it was actually traded, then you have to question the sincerity of the trade.
Obviously if someone is sharing a loss,.... that of course is an example of being honest.
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atticus
Registered: Mar 2007
Posts: 12608 |
07-28-12 05:35 AM
Quote from diaoptions:
Looks like you two guys (atticus and cdcaveman) are on a different page. Terms like butterfly, strangle, straddle, one ratio, back spreads, etc can easily be misinterpreted. This is why it's important to specify exact trade with strikes and fills.
cdcaveman your "butterfly" could not have been entered as a $0.20 credit and bought back at $4.10. One post you call it a ratio back spread next post a butterfly. Without seeing the trade we can only guess what it was, was it a OTM credit spread, perhaps 2 or 3 strikes OTM?
I post specific trades in r/t at marketable prices. I do so or I don't post the trade.
None of those positions (save for ratio) can be interpreted more than one way.
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diaoptions
Registered: Aug 2011
Posts: 392 |
07-28-12 06:13 AM
These posts quoted below is a total lack of communication. http://www.elitetrader.com/vb/showt...477#post3582477
Quote from cdcaveman:
just to let you guys know.. i had a weekly ratio backspread i just bought back at 4.10 i put it on at a credit of .20 thats really clost to a max loss for a ratio... first time ever.. not that i've put tons of them on.. but i said in this thread eariler its highly unlikely to realize the full loss.. and here i am.. haha Murphys law!
Quote from atticus:
Brother, you're buying vol-exposure second only to an ATM straddle, prior to earnings.
Quote from cdcaveman:
I bought a butterfly not a straddle.. and one ratio .. sorry man no comprende tu.. what do you mean
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cdcaveman
Registered: Aug 2011
Posts: 3514 |
07-28-12 07:58 AM
sorry guys if i was unclear.. i put a butterfly with a positive bias on netflix.. and a ratio backspread on for earnings.. i lost on both.. the 65 /65 ratio i closed out at 4.10 debit.. i put the ratio on at a credit of .06 cents.. the butterfly i put on was totally a different trade.. both obviously weren't on target! thats copied right off my trade log.. i think i'll post that directly from now on.. i get mixed up with what people are saying alot of times and its frustrating.. so i should make my posts clear at least! haha
BOT 1 NFLX JUL 27 '12 + 105 - (2)85 + 95 Call Butterfly 1.57 USD
BOT 1 NFLX JUL 27 '12 - (1) 65 + (2) 60 Put Put Vertical Spread -0.06 USD
SLD 1 NFLX JUL 27 '12 - (1) 65 + (2) 60 Put Put Vertical Spread -4.10 USD
of course the butterfly expired worthless
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cdcaveman
Registered: Aug 2011
Posts: 3514 |
07-28-12 08:03 AM
Quote from atticus:
Brother, you're buying vol-exposure second only to an ATM straddle, prior to earnings.
what do you mean??? i'm buying similar vol exposure to a ATM straddle..?
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