Zero, I don't trade flies. The 665/725/785 example was to show babulane how flies are structured based on his OTM 725/785/845 fly. 1 long ITM 2 short ATM (or close to it) 1 long OTM
Dude, I know my flies... and the one I posted would have been a loser, yes, but I was simply betting. Atticus' comment made me rethink... anyways, damn you straddle sellers... nice profit here for you guys
No you don't. You made the same mistake a few days ago, and I corrected you on that one. http://www.elitetrader.com/vb/showthread.php?s=&postid=3520113#post3520113
Nothing wrong with the current trade if we open >700. The Jan2013 750 straddle went out at 190 bid. I lost track of time and missed that short that was recommended by a buddy.
that's a not a mistake. I was betting on a one time event. I was gonna do that too this time but atticus' post made me rethink. That's all. I like gambling a bit more during earnings. I don't think I need to be judged by someone who was so ashamed of his previous debacle on ET that he had to come back with a different handle. I've never been ashamed of posting my losses... fortunately though, tomorrow might be a good day for me. I don't post ALL my trades here. For example, I have some CSCO 16/17/18 put flies because I was betting CSCO would fall after earnings and guess what Fred Flintstone, it did. Now I'm not gonna claim, like you have done in the past under ForexForex, that I was right on direction. I was simply right to take a cheap bet that paid off... Yeah, even above 690 should be fine. May 18 IV probably won't drop 60 IV