It's a call, or natural butterfly. I'm confused by your use of "reverse" in this context. A long atm natural fly is hurt by an increase in vol; in terms of spot[gamma risk] and implied vols. hhho: You're correct. Option vols on CSCO are meaningless.
Yes Yes, both are correct...it's been years since I messed with option strategies trying to profit off of moves in VEGA and Gamma...Just looked back into some old option strategy books and yes just butterfly or sandwich spread would of been the correct verbage....My bad....My bad, Probably a good thing I only sell coverd calls and purchase protective puts now days...didn't think the memory was that off...Just kidding So I apologize and appreciate the option traders here correcting me....Well Guess I'll just sit back and watch good old Cisco go through 21.00, and my other 198 long positions make me 75K today...But thanks for the correction.. $CostAverageMan Whole Portfolio located @ Forums--tradingforaliving--Journals--want to share 2 DAY CHART
Just thought I would come back here and Gloat a little...I believe it was back on the 2nd post of this Cisco Form when I tried my best to suggest that Cisco was the wrong short ( I was right ) 2nd: My suggestion was DCN (Dana Corp) as the only short to take..One in which I have been short since $15...But you could of been at $4.25 when I suggested it...They filed bankruptcy today 3rd: Other suggestions were XSNX at 1.05 that day... its at 1.80 today... 4th: Was BOT around 108...Opened today at 123. So I guess the point is even a blind squirrel can find the one nut in the forrest...BUT Only he he's not blind and knows where the Sh#t lies in this Jungle of a Market.. For real knowledge of the market, I suggest checking the Journal I'm in doing at. Forums--Trading for a living--Journal--Want to share.. But you already know everything cause this is elite trader..right!! I understand Making a few points on GOOG is fun, but Investing you can do for years.. Investors and swing traders would be interested!!