Long Spy, short vol: feedback welcome

Thanks for the update. Please keep us posted.

 

Wondering how this looks now, with the late pullback yesterday and being flat today.

 

The up and out is looking much better out of the gate. But I’m long vol now. Not great.

 

Tried to hedge it with a box to see and it didn’t work. Didn’t get the Greeks offset evenly at all. Probably best to hedge with stock. In this case I could keep the Vol and hedge short stock. Not terrible

 

It’s working in spite of the structuring. Lesson learned on term selection.