VIX fly / spread journal

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

  1. nice job..i covered a bunch of long dec vol at very good gains also.
     
    #321     Dec 11, 2013
  2. Jgills

    Jgills

    i couldnt believe my eyes when it went to 0.50.. i rushed to get some orders in but it was too late. i closed 77.

    i had added some and scalped a little bit yday from 1.1 to 1.04..but nothin compared to today.

    i'll be keepin my eye on it to add if it is over 1 again
     
    #322     Dec 11, 2013
  3. good call. 2nd spread also responded quite a bit.
     
    #323     Dec 11, 2013
  4. ES down 10, what would you expect this close to exp?

    Spread is up a dime. What did you book on it?
     
    #324     Dec 11, 2013
  5. Actually its worse, we are down 20 handles since the call. The loss would have been disproportionate if the ES had rallied 20. I never understood why trade the front spread this close to spot when a simple ES short or long would be better in risk terms. Even as a hedge to short vol elsewhere.

    Nevertheless, i am glad it worked out and was profitable.
     
    #325     Dec 11, 2013
  6. Yeah, I don't get the hyperbole. Spread is up a dime at mid (today, marked to this post) with cash up 0.73 on a selloff.

    [​IMG]
     
    #326     Dec 11, 2013
  7. Jgills

    Jgills

    started with "es has to be down 20-30 to make money" to es is down 10 what do u expect?

    are u here to troll me or what?

    es was down 5 handles (from the close) and the spread traded 0.51. thats down 50c on day. i got out at 77. my avg px was 1.08, so 31c gross pnl. i agree its down 10 now and spread is a bit wider than earlier, it is what it is and i'll be keeping my eye to add again if conditions are right.

    maybe rally is right and i need to re-think it and i'm being fooled by sp direction, but its hard to tell.
     
    #327     Dec 11, 2013
  8. gosh..he made like 30 cents in a few days.

    why attack so much?

    i stand by my belief there was always little downside but a ton of upside in the trade, even as isolated.
     
    #328     Dec 11, 2013
  9. As Rally stated, ES is down 20 since you posted the trade. You act as though you bought CDS and they paid off.

    Yeah, it traded down to 51 for exactly one minute this morning. I don't get your point. It's been 85 mid most of the day with ES now down 12. You got an out solely due to a cash rise of 80 cents as a result of the spooz taking a healthy shit. And it's 85 now with futures near the low (ES).

    Delude yourself into thinking it doesn't matter. Whatever.
     
    #329     Dec 11, 2013
  10. I am nearly certain that if you trade this 100 times under similar conditions you will come out net loser and the loss won't be small. In fact, if i wasnt trading my own money i'd be trading the other side and selling var. :D
     
    #330     Dec 11, 2013