VIX fly / spread journal

Discussion in 'Journals' started by Jgills, Oct 22, 2012.

  1. Jgills

    Jgills

    thanks for getting back. i guess i need to study up more on the dynamics as clearly i thought it would be inverted by now and 1) it isn't 2) you understand why it isnt.
     
    #181     Jun 24, 2013
  2. Jgills

    Jgills

    i've gotta thank some users here as i closed legs of my fly at different times. i legged out of the short calendar aug/sep leg at 0.37 a few days ago. i finished the rest of the position (the long sep/oct spread) at 0.43.

    the net pnl turned out to be pretty good, but i owe some credit to both sellindexvol and rallymode for helping me to realize a problem in my position.

    i still liked the long leg, but given that calendar spread margins are increasing close to 6x tomorrow, i wanted to sit out and see if it has any impact on liquidity and moves spreads around a bit.

    seeing as its almost the end of June, i will shortly post my YTD performance. the past month has been very vital to my learning and i havent performed as well as i would have liked.

    hope others have done better and thanks for following
     
    #182     Jun 26, 2013
  3. Say what? Where did you see this 6x margin increase? I have received no such update from the CFE.
     
    #183     Jun 26, 2013
  4. Jgills

    Jgills

    #184     Jun 26, 2013
  5. Rally I emailed u this morning..permit holder margin circular gets it first apparently.. u most certainly have it in your inbox. I was on phone half the morning with CFE..they confirmed it.

    I can resend if u need it.

    This is a game changer if they implement. All day today I reduced. Shout out to NJ rookie who clued me in..thanks again.
     
    #185     Jun 26, 2013
  6. Margin tab is for current margin. The new rate kicks in tomorrow.
     
    #186     Jun 26, 2013
  7. I am a TPH and got no such notice. Even if i did, 6x increase with a 2 day notice - LOL

    The CFE can kiss good bye to their ever increasing volume and OI if they don't reverse this insanity. It's absurd to have the front spread with a margin req pretty much in par with the outright. This notice is a complete joke. Too bad it isn't April 1.
     
    #187     Jun 27, 2013
  8. Did anyone get a reason as to why they are doing this!? Seems like a drastic move unless some things have blown-up behind the scenes that are prompting this...
     
    #188     Jun 27, 2013
  9. OCC wants it "from their MC model and due to current market environment". A bunch of gvmt acad quant type who had no idea what is going on.
     
    #189     Jun 27, 2013
  10. I am not a conspiracy buff but this has a hidden agenda written all over it. I will be very interested in doing some digging around in my circles when i get back from vacation.
     
    #190     Jun 27, 2013