It will depend on where we open. I am inclined to hold it as I’ve only got 50 of these. I’d cover in the first 30 minutes if you can score a fill at 3.2 or better.
Yeah, that was a great. I just put in order @ 3.45 right after open and got filled 10 mins in or something. Jumped the gun just slightly, I think I'll get a better feel for exits after more experience with these types of trades. I didn't take a good look at the vol surface when we opened this; do you typically stagger the strikes toward where ever the higher skew is for assym flies? Noticed on this one the breakeven range was around same as the implied move for the trade duration (140% IV / sqrt(252) / 1.5 days = 13%; about ~$5 range in $$, is that a good rule of thumb for width?
I can't get into why I chose the structure. Local vol is so tight on SN that you're not going to gain more than a nickel in edge.
Greeks, vols, skew, etc don't mean jack this close to exp. You are approaching the event horizon ha ceteris paribus, it'll try to pin 40. Micro-structure is the driver now.
I have no idea what yer doing in options, but I like the Uber short idea. How does a taxi company lose over a billion dollars a year and stay in business?