Yeah, it's tough to go short gamma at long vol on a strike touch only to see it flip. At least you'll do well on another touch. I am not currently, but I may due to the width (8/36 days). I hate to admit I am watching for a fib touch/break-down at 1223-25 on SPX. I am also looking at the June 6th (61.8%) level, but would be long gone by that level. I won't take any action solely on my delta-pos.
wow technical analysis, do you have any thoughts on GOOG today. I know its a coin flip, anything excite you here?
I only follow the 50% because it's so widely-followed. I have some flies on in GOOG: Small positions into a binary event and unhedged.
I must admit that I was looking at the exact same graph when I put my trade on as well. Today's selloff is making me happy.... 6 days is an eternity however.
Haha (newwurldmn) King, you will need GOOG to rally $20 on that as Dec vols will trade to 28% at the open tomorrow.
590 on GOOG. Early to tell, but the combination should pay very well tomorrow. The pic shows the MTM-mid, but I paid 23.20 for the wide fly and 16.00 for the narrow.