Shared by
avlasov
TRADE AV001
Initiated an unbalanced fly (uFly) at 300 on 2/10 for a 2/20exp
This uFly is max profit at 300, makes 0.5 anywhere below and has risk is we fly above 300
Strategy: wanted a lotto “pin” trade at a round number of 300 for monthly and quarterly expiration. Noticed ALOT of open interest there. Also wanted limited downside risk.
Mgmt: wait till exp unless we blow through 300
recap: trade expired and we collected the credit we wrote this spread for. A whopping 0.50 ($50) cent per contract.
LL (lessons learned): obv would have been dope to just be short but I’ve just gotten out of my swing shorts and wanted to sit on the sidelines and keep myself busy with silly low risk trades like this
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-03-10 08:07:12 | 20 MAR 20 297 CALL | buy | $3.380 | long |
| 2020-03-10 08:07:12 | 20 MAR 20 300 CALL | sell | $2.400 | short |
| 2020-03-10 08:07:12 | 20 MAR 20 303 CALL | buy | $1.660 | long |
| 2020-03-21 08:08:27 | 20 MAR 20 300 CALL | buy | $0.0000 | 0 |
| 2020-03-21 08:45:16 | 20 MAR 20 297 CALL | sell | $0.0000 | 0 |
| 2020-03-21 08:46:12 | 20 MAR 20 303 CALL | sell | $0.0000 | 0 |
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