Long to the limit of the account. Long the AAPL Oct 620/665/710 fly from 12.75 risk (12.60 mid). Looking for 15.00 by Monday's close. Do the put fly if your front end doesn't support irons.
why iron or put .. instead of call? downside bias? +BOT 1AAPLOCT 19 '12 + 665 - (2)620 + 710 Put Butterfly 12.85 USD SMART 13:54:34 OptTrader 2.27 null my 675 calender is working good.... short sept long oct... pre earnings month against earnings month play in at 10.61 AAPL - SEP 21 '12 + OCT 19 '12 675 Put Calendar Spread 10.61 USD
seems like its slowly going dead... worried a little about a break out down etc.. seems like there isn't much juice left in these flys
no no no. They're all equivalent, but I assume it will trade North of 665 so it may be a bit easier to move the put fly (to close) as the short strike would be OTM (microstructure). Not wanting to convey that one is "better" than the other. Glad you took the Sep/Oct calendar.
I'll what-if it a week forward or so at neutrality, assuming flat vol. I am looking for strike touches or a move in vol. The AAPL calendar I closed was a bet on a strike touch and a gain in vol. Unfortunately it inverted on delta but rose on vol.