Is lundy the biggest bullsh!ter here on ET? Thanks for the link nkhoi, I now can add lundy to the list of posters I can safely ignore. Unbelievable...what can he get out by spewing all that BS on the internet discussion forum?
Time-scaling into a back month 2-wide long fly[10/12/14] in the long bond. Selling the body combo into reports and buying the wings after a few days theta which typically offered a conversion of 8-10 ticks-risk on average over the life of the fly. Did this week after week, month after month. Ended up owning 900 of these at an average of 7 or 8 ticks. Expiration week saw the contract pinned to the strike +/- 15 futures ticks. Each day of decay produced a convexity gain of $200k plus. Problem being when to unwind the trade or to wait for the lottery. Literally didn't sleep more than an hour the entire week. Resorted to asking my relatives what I should do. Held through expiration and unwound futures the following Monday. US closed exp Friday only 6 futures ticks from pinning the body strike.
Short straddle on GOOG on expiration day at around noon. Close the trade at market on close. Both legs expired near worthless and I pocketed all the premium.
Shorting ELX at $28 back in 01 and seeing it rally to $46 without covering (Goldman Sachs upgraded it in the 40+....he he he). Added on the downside from $25 onwards (after it saw $46 by the way). I didn't blink... Please don't do this at home, it can kill you!!! Covered the whole position around $11sh Return over 01/02 -> 150%