What will HowardCohodas's month on month return be for March?

[Depth Trade]

Neither Strangle nor Straddle

 

[TheBramble]

dr,ha
That's why I am never wrong!

Obviously 2011

Oh you're kidding!

I've just gone in LARGE.....


{.....I wondered why it was so easy to get a fill....}

 

[DashRiprock]

Neither Strangle nor Straddle

you have a position in a call and a put, each with different strikes, same expiry.

so its a strangle or a risk reversal right? It's not a vertical spread because you are on both sides of the chain (i.e. not both calls or not both puts). It's not a straddle because the strikes are different.

so what is it? and why? direction, vol, skew whatever?

 

[Depth Trade]

you have a position in a call and a put, each with different strikes, same expiry.

so its a strangle or a risk reversal right? It's not a vertical spread because you are on both sides of the chain (i.e. not both calls or not both puts). It's not a straddle because the strikes are different.

so what is it? and why? direction, vol, skew whatever?

DR, I can barely type right now because my hands are wrapped, I am in the middle of working out on my heavy bag and am just replying between that and push-ups. Give me half hour to consistently respond.
I am basing the position off my directional call for the week.

 

[robster970]

Is this your 'heavy bag'?

 

[Depth Trade]

Is this your 'heavy bag'?

I'd drop a $ twenty on that

 

[TheBramble]

Is this your 'heavy bag'?

Where do you find your totty Robster? Aldi?

 

[DashRiprock]

thank god this is on Howards thread and not mine

 

[robster970]

Lidl - Aldi is too up market for me.

 

[Depth Trade]

Howard , let me give you a lesson on trading options Son. First off, you have to have an idea of where the market is going and know what the heck you're doing..

Buying slv spread call-put
April 15 2001 Exp.

37c 1.15- 35p 0.16
Paying 0.99
:whistling

Howard, you ever run 500keys of puruvian snowflake Son?

 

[rosehound]

The trade is a risk reversal, http://www.euronext.com/fic/000/010/729/107297.pdf the Liffe handbook calls it a combo, which is also right - it's also basically a split-strike long future so depends how you want to interpret it/why you are putting it on.

It is a classic risk reversal though because as the underlying moves above your high strike/below your low strike your risk profile flips (long gamma above the call, short it below the put).

 

[Mr. Charts]

Is this your 'heavy bag'?

Looks more like a Poundstretcher special offer to me.

Let's hope they don't do a BOGOF

 

[Depth Trade]

The trade is a risk reversal, http://www.euronext.com/fic/000/010/729/107297.pdf the Liffe handbook calls it a combo, which is also right - it's also basically a split-strike long future so depends how you want to interpret it/why you are putting it on.

It is a classic risk reversal though because as the underlying moves above your high strike/below your low strike your risk profile flips (long gamma above the call, short it below the put).

... so what do you think about the positioning?

 

[rosehound]

dunno really, some kind of earnings play? think the stock may rise over 38, but if it drops will hold 35 and happy to pay a buck to get that exposure..... 37 must be pretty near where the underlying is now right? considering not long til expiry....

 

[Martinghoul]

It's a risk reversal... They're good trades when they work, but if you happen to be wrong, you might get mullered, rogered and spanked, all at the same time. And it's not a stock, innit? It's one of 'em precious metals ETFs, specifically, silver.

 

[DashRiprock]

well I feel less like an idiot now cos I thought it was a RR and def. knew it was silver
so 🙂 for me

 

[DashRiprock]

DepthTrade - Do you hold any of the underlying?

Actually why don't we all be quiet and let him explain his trade to us...

 

[rosehound]

must have missed the silver hint... ahhh thats what slv meant! sherlock....

why did the guy posting it say it wasnt a rr? i'm confused

 

[DashRiprock]

It's a risk reversal... They're good trades when they work, but if you happen to be wrong, you might get mullered, rogered and spanked, all at the same time. And it's not a stock, innit? It's one of 'em precious metals ETFs, specifically, silver.

Martinghoul if you know of any trades that I can do where if I'm right I make money and If I'm wrong I get spanked, müller(riced) and rogered please do let me know because typically my option trades lose money and I have to pay for the rest.

 

[Martinghoul]

Martinghoul if you know of any trades that I can do where if I'm right I make money and If I'm wrong I get spanked, müller(riced) and rogered please do let me know because typically my option trades lose money and I have to pay for the rest.

Well, a risk reversal does make money if you're right on direction, fo' shizzle. It's a bit too shall we say, turbo for me, 'cause normally when it goes wrong, it does so in style. I had a colleague who blew up and was fired on the spot one fine day because of some unfortunate risk reversals he had in USDJPY. Wasn't a good day for the guy, that's for sure.