Can someone comment on Atticus strategy? I mean is it possible to run up a an account trading solely butterflies with no delta hedging in this day in age?
Atticus and his other ET aliases started lots of butterfly threads over the years - all your questions should be answered in those threads. PS ..... He even might answer this thread - I see he commented a few days ago on another thread.
I have read them but they still dont answer the questions I have. When I try to look at his profile to read his threads it says the user only allows certain people to access his account
In a nut shell No hedging required. The butterfly is a stand alone position. You must be good at estimating where a stock will end up on the date you would like to exit.
Wut? Sure. A buddy of mine from Chicago did 800% in something under five years. He built the spreadsheets and (my) flies and cals are the basis of his system. I can't go into any detail on the excel setup/macros as it's his livelihood. My IRA is at an ATH. I am in Florida until Tuesday afternoon, but post your questions here or PM. I'll be on the ocean with nothing but a radio and sat-SMS device so no internets. No delta hedging in delta1 or volatility. Only D1 from inception. Say you're long x00 ATM flies (SPX 2700; SPX 2550/2600/2700 231; long ES futures). I/we never add delta1 or vol to hedge a running position. Had a death in the family so the family is a bit fragile here. IOW, I have zero interest in battling anons, so if it goes sideways I'll just walk away.