one/off

Discussion in 'Journals' started by atticus, Sep 20, 2011.

  1. That's weird. IB convention, but I am long the natural.

    Bought the ES 10/07/11 1100-1200 fly at 16.00 risk.
     
    #21     Sep 30, 2011
  2. Neutral price to 1155 (bot the 10/60/10 fly as well, same size)
     
    #22     Sep 30, 2011
  3. Sold 20D in ESZ1 against the twin-flies (each at 20D) at 32.00.
     
    #23     Sep 30, 2011
  4. Just covered hedge at 24.50 for a gain of 7.50. Hedge gained reduced avg. entry by 1.50 on the flies (20-deltas per).
     
    #24     Oct 2, 2011
  5. Out of the 00/50/00 fly at 19; out of the 10/60/10 at 16.
     
    #25     Oct 5, 2011
  6. With the 1200C no bid, do you just unwind the 1 x 2 and keep the 1200 in your back pocket...or do you submit it as a fly because it increases the odds of executing/decent fill?
     
    #26     Oct 5, 2011
  7. I was in the irons, but use the natural debit as the MTM. It's easier to quote the natural, but I often own both. You calc the market based upon the iron or via the synthetic (OTM put, synthetic ITM call) on the DITM call and place your order accordingly.
     
    #27     Oct 5, 2011
  8. Netted 3.00 per fly based upon the hedge. Horrible trades as I should have kept the ES hedge as it was ITM the entire hold. Always learning something.
     
    #28     Oct 5, 2011
  9. I am in a small position in the Oct 21 1050/1125/1200 fly from 24.00 (8 lot). Will not hedge, only offset.
     
    #29     Oct 5, 2011
  10. Sorry, misunderstood your question. I typically trade flies delta-directional so it simply another risk to leg into it. I always trade naturals as a single order and irons as a strangle -> straddle.
     
    #30     Oct 5, 2011