No choice... left the screen due to family arriving here and came back 700-away from the barrier. It will cover the exotic-debit, but at huge upside risk. I will have a hair-trigger on this one.
1250 - 1290 vanilla strangle ? If those strike would of be available for Weeklies , would you consider to hedge exotic with them ?
Same bear risk-reversal I bought at 3.00 earlier. My double barrier will be null tomorrow, but I have the r/r worth 18.00 based upon futures discount to cash and gamma-gains. I will cover the entire 210 R/Rs tomorrow.
sorry to hear it for you , B. I had a bad feeling when you bought back with the loss your long 1950 barrier , but what do I know about market direction
No worries. Risk rev are up 260k into the barrier, basis 124900 futures, last print. Gain approx $20k per handle if we trade South of 124900 on June ES.
Can't stomach the overnight risk knowing the double barrier is virtually certain of being touched. If the market reverses higher I'll see a huge gain on the exotic and reversal ... provided we do not see 1249.00 basis cash. Bought 400 June ES at an average of 1248.50. This will allow for a b/e on the exotic and hedges. The position has no risk -- remains long gamma and vegas.