Yeah, sucks. You still in the Dec fly in the other account? Looks like I was dead wrong on the SPX trade.
I am long the AAPL 500/560/620 Jan fly from 18.20 risk (18.00 mid), fully 25% of my equity account(s) net liq. Shares at 542~. Outside reporting and in Jan to defer taxes. I'll be in this in the journal account once out of GOOG next week.
neither one of us ever took it, he said want to bet it wont hit 550, i said ya ill bet, but you have to make a counter bet that it will hit x on the long side before the holidays. for instance he would have to say it will hit 610, or 620, or whatever his number might be by the holidays. then i would take the bet, if apple stays between our range its a push, if apple hits one of our marks then that person wins. he never responded. which is fine, i dont really care. im just saying its not like i backed out. i stood firm to my 550 price.
You ignored the bet. So you lost double; once in opportunity on the wager and you admittedly didn't short AAPL. The best was yes or no to a touch of $550. Long a touch at 40/100 is short a touch at 60/100. You avoided it. There is no need for a counter as a wager on a touch is an explicit bid for a hit and an offer against a hit. Adding an upside target is ANOTHER DISTINCT wager and superfluous as the "short touch" takes care of the upside. cdcaveman, southall and others tried to explain it to you on the thread, but it was over your head.