2920. I was working with GOOGL at the time. Can't recall. My intent was to state that SPX was trading outside the wing and you would've been hurt by hedging. GL.
Probably, yes. My funniest story is why I got my badge taken away from me on my first day trading. The exchange despised the company I worked for, so to bust my nuts they delayed my membership for 2 months, which to a twenty-two year old was life. So when I finally got my badge I asked, the poor unsuspecting secretary, at the last second, if it could be changed to FIRE. The moment I wrote up my first trade the humor ensued. I handed it to my clerk and sent him down to the ginormous clearing room where clerks screamed out the traders name across the floor to check trades. The following morning, as I walked out of the elevator, every board member of the exchange was waiting for me, and not with smiles on their faces. As for the peanut gallery on the floor - instant street cred. ...and now, time to walk my pup.
Okay, I'm resurrecting this thread. I'm not that much wiser on butterflies since I looked at them over a year ago, cos I started doing other types of trades. But, wanting to have another bash at this, so here's one I just opened : SPX Put fly, strikes 3450/3300/3100 (+1/-2/+1), expiry 17-Dec. Cost 6.25. But there's margin of $5K, so all %age returns will be calculated on $5,625. Breakevens at expiry are 3156 and 3442, but I won't be holding till then. Theta is 11.6 and vega is 3.42, so a nice slow trade.