"Sep21 2850/2870/2935/2955 is 7.90 last; risking 12.10. 5D at inception. 30? " Dude, I'm not your coach. You either know and manage by the greeks or you don't. I can concoct a crappy trade for you along with a winner. I have time for you or your pseudo trade. However, I need to get up early and since the Elite Traders seems to think common income option spreads don't work, well let me thank you from the bottom of my wallet because my account thinks otherwise. I've been doing mostly 10 day calendars over the past month and they've been paying off better than an ATM - $1000 every trade every 48 hours. I have a sizable RUT calendar and a crude oil butterfly on, plus I need to add another 40 lot SPX broken wing butterfly in the morning. Goodnight and goodbye.
I'm going to venture to guess that "30-Delta" means the delta of the short strikes, not the net delta of the position.
Yes, I alluded to that in my SPX IC-example (using 30D strikes as the inside combo). The guy knows less about vola than my puppies. "How can you sell the puts if you haven't bought the calls? Sell the vol" Pink Floyd
I'm doing 30 lot asymmetrical out of the money butterflies NOT Iron Condors (the VIX is too low for IC's now) - the margin is $60,000. You have to know how to manage them but some Elite Trader told me that was bananas. I need sleep and the Elite Traders think I'm BS, so have a nice life. I haven't the slightest clue what you guys do, but hey that's not gonna change. Bub bye.
How does one monitor a trade? When it comes to options, I only know about buying and selling puts and calls separately. I get why you might want to do that, but I don't see how it's any different from just closing some of your position if price does a certain movement. I thought selling puts would be the best way to average into a position but for price to get there before or after expiration it wouldn't work. I mean, if you're going to buy the stock anyway, you might as well get paid to buy it. Considering someone that wants to buy XYZ at 150, but it's currently at 160, why not sell a put for 150. you're going to buy it regardless, and this way you get paid. Except, if price goes there too early or too late you don't get the stock. Now, are these option positions like, you can keep modifying them until they go in your favor? Is that like averaging into a position hoping that it will travel in your favor? Now I understand why if you think price might go up you might buy a call, with it being cheaper than buying the stock, and you can make a ton of money with a little amount of money. Why not just buy the stock and put a loss at the appropriate price? People think I'm trolling, I guess they don't have to answer if they don't want.