I doubt that Jeff Augen trades what he writes or talks about. He might take the other side of the trade. I have listened to his webinar in real time and watched AAPL's fly "decay". There was no decay, the first week the fly lost huge, second and third weeks the fly began to decay only on Tuesday or Wednesday. Option markets price new weeklys with lower IV voiding any decay through the weekend, but the short gamma exposes the fly buyer to high risk. He promotes myths of easy money.
Did three trades using what he talked about. None of them went into the green. However, this is a pretty low risk/low reward strategy.
His strategy was to open Thursday. However, we had jobs report coming so waited until Friday to open. He recommended closing Friday also or hold over the weekend but to get out no later than Tuesday morning before time decay acceleration. Not the ideal time to do these since this week has iPhone5, Bernanke, Germany all flapping around.
And brought to ET's attention 4 trading days ago. If you saw it when it was first broadcast why didn't you mention it? Option flies are very popular on ET.