Protecting a DITM call spread

Discussion in 'Options' started by xandman, Jan 23, 2017.

  1. vanzandt

    vanzandt

    Well, there's a newsflash. Go figure.
    But hey....at least he has a heated driveway. His wife's parents gave it to him.
    If the truth were known....I bet she's the type that sleeps with the boys in the band.
    Its an escape.
    The lonely wife syndrome..........Married to an idiot.
     
    #21     Jan 24, 2017
  2. vanzandt

    vanzandt

    xandman is cool JR
     
    #22     Jan 24, 2017
    JackRab likes this.
  3. destriero

    destriero


    It was at 31 mid. WTF are you smoking? The fly was 40 with the 2200/2260 VERTICAL at 43?
     
    #23     Jan 24, 2017
  4. xandman

    xandman

    Np, mate. The testosterone is common. Back at the Merc, I used to wonder if traders would go to fisticuffs. Then, I would see the same two downstairs at the bar arguing about sports in the same fashion.

    Both of you have provided valuable knowledge.
     
    #24     Jan 24, 2017
    JackRab and vanzandt like this.
  5. JackRab

    JackRab

    Why have a heated driveway? I thought he had about 20 loaded automatic weapons under his bed... surely he can threat some dude in the street to clear it for him... That way he could've spend the 1mio on butterflies at prices of 1968....
     
    #25     Jan 24, 2017
  6. destriero

    destriero


    A market maker that can't add and subtract? (40 fly value)

    A market maker that doesn't know the difference between a box and a conversion?
     
    #26     Jan 24, 2017
  7. JackRab

    JackRab

    2200C at 64 ish,
    2260C at 11 ish
    2320C at what... a couple of dimes

    Do I need to send you a calculator?
     
    #27     Jan 24, 2017
  8. destriero

    destriero

    ES was 2259x60

    The 2200P was trading 4? How do you figure that one, lol? The 2215P is about a buck.

    Do you need a calculator for put-call parity with a week to expiration?

    You were a friggin market maker and you assign a value of $4 to the 2200P? Rly?
     
    Last edited: Jan 24, 2017
    #28     Jan 24, 2017
  9. destriero

    destriero

    The natural fly doesn't quote due to the DITM call. The (short) iron went off at a credit of 25, so the debit on the natural is at 35.

    I quoted the natural last night and it was 32-mid on TOS. There was no mkt in the 2200C, but you really believe the 2200P was at $4? So the fly lost $5-6 today?

    Jack, stop making sh!t up. There is a pretty large distinction between a conversion and a long synthetic. Umm, one involves the underlying.

    So either you've never traded ES options or you didn't look, but the thing was worth 1.50 yesterday (moneyness) as the 2015 today is at a buck.

    You must have been one hell of a MMer.
     
    Last edited: Jan 24, 2017
    #29     Jan 24, 2017
  10. vanzandt

    vanzandt

    Zandy gotta run for now...
    I'll say high to your wife.;)
    She's really not too bad lookin'.
    E plurbis unum.
     
    #30     Jan 24, 2017