My option trades

Closed the iron at a scratch.

Short the AAPL May 470/625 strangle at 8.25 (10-lot, personal). Don't short naked unless you're willing to be assigned.

Edit: Also, long the 560/590/620 May fly from 4.50 risk.

Selling 4600 vol. Short most from 4700 in May (flat surface / 100bp across 30 handles) when I posted yesterday, so we've come in a little. Expecting 3500-3600 tomorrow in May.

 

makes sense to me, consensus seems to be may vol will come in ALOT!

 

Vol has come in another 50bp. Fly is now 4.85 mid. I would not pay more than $5.00 for it. I am more confident in it as we trade lower on shares I would hate to flip on delta (modality, above 590), as it would be a very poor decision on this fly, even if it wins.

 

I haven't responded as we'll know empirically in less than 24h, but ATM vol in May just printed a 44-handle, down from 47 yesterday. I still believe May will touch 3500bp tomorrow (+/- 30 OTM).

Fly just went 5.00 mid.

 

5.35 mid, wtf? Covered some at 5.25.

 

How about that 470/675 Strangle, it's ~7.05 mid. Too late?

 

Out all but 10-lot (remaining) at 5.45 (current mid is 5.50)

 

Nice, picked up a quick buck.

 

Are you still in the strangle?

 

Yeah, 10-lot in the fly and strangle.