Microstructure on synthetic flies is much cleaner than trading an ITM leg. I trade 2-3K contracts a day (in/out) and my average fill on all spreads/combos is 0.3% off mid as a price taker. GOOGL 1700/1800/2000 231 put fly = 2x1700/1800 bull put verts x 1x1800/2000 bear call vert (combo). I don't have the numbers in front of me but IIRC the Px-improvement is on the order of 0.1%.
I often got better fills when I traded right after market opened and there were lots of uncertainties.
I was unclear, I typically don’t leg and experience horrible fills on SPX if I can get a fill at all. I have tried to leg in/out to improve fill price but as mentioned before is small hit or big miss. With U/Ls that can be purchased directly (such as GOOG) I get much better fills when go synthetic route, however since I trade SPX almost exclusively I don’t have that option directly and would prefer to not use /ES as substitute.
I don't know about SPX because I trade SPY. Look at what else I traded: 121 butterflies on GILD call options. Very difficult to exit at mid.
GME is going to announce an offering/secondary next week. Stock will hit $550 and crater to $250 by the end of the day. Be careful, fvckers.
Have you seen what happend in amc? They converted notes the day after the stock went +300% into 44M shares, the stock halfed on that news
Why wouldn't they announce another offering? At this $300+ it would be irresponsible not to. People on some reddit were saying they were short at $380!!! This vol spike was awe to watch. How would a vol insanity on this be tradeable? A diagonal?