I don't mind failing like this. If you were shorting at 110 given the momentum, you need your head examined. I like vol, I think Atticus is cool peoples too (I wish he'll explain more of his option trades for option semi-virgins like myself). I just don't know if all this crap can stop so we can get back to screwing, or getting screwed by the market. Can't we all just get along....with our multiple screen names?
Short 04.50 Dec, SL 17.00, open-ended. I don't truly understand people opening their systems on a message board. I may look to certain users for confirmation (I don't trade ES often, as a spec), but I don't feel it necessary to understand how they arrived at their view. Most of my stuff is discretion, so it would be of little use to explain it.
agreed. dont think he said he was going short at 110 anyway. 104 to 110 is a nice ride as it is. not a failure if $ was made.
I think waiting for a light volume wrb on the hourly closing above 1107 is a safer short... the wider the range the safer the short... as long as the volume is low. So far all the hourly bars today qualify as light volume. If this trade materializes - it is likely to get stolen late Sunday night or Monday before open.
He made money on it? Has he posted a trade here in the last year? The best-practice to monetize an index range is via a vanilla fly/condor OR an expiration range or barrier range (DNT) in binary options. WAGER: I'll be happy to price a barrier range trade based upon his prediction, and offer one of my own. Whoever wins the next month's barrier range trade wager wins $200 from the loser. The goal of the long DNT is to remain wide enough to avoid loss of premium, and narrow enough to maximize payout. Whoever prices the best payout w/o hitting either barrier, wins. We'll each send sellindexvol66 $200 via paypal as custodian (or another ETer, mutually agreed). I can post real-time pricing via BOM and post the screenshots here. Or we can post a vanilla position, either way, but the vanilla doesn't track as well. Edit: DNT = double no touch/2x knockout/barrier range/american range exotic
In deference to volente, the spread was a lot cheaper at 107.xx when he mentioned the range. No trade was made nor proposed at the time, so the call spread at 5.62 is pointless.