Not gonna lie, I really wish I knew what the fuck I was reading.
I have some questions if you're game to answer them.
1. What underlyings you trading? AMZN and the ilk?
2. Your split strike conversion example. That was expanatory of what some (defunct) firm was claiming ? And not what you are trading or this is how you structure yours as well?
3. What type of weather events ? Storms and what not? DId you trade around the BP spill a few years ago?
I am spending a lot of time trading a proprietary system that I have developed that is showing promise but requires some fine turning and I am game to watch a professional making some hay.
How about pointing us new guys in the right direction on where to start to understand as you do?
Any chance you'll make that spreadsheet available?
Here is an asymmetric fly for next week's expiration. I don't use this front-end, but it shows the stress-test on the position. Long 10% of account in the fly from 67.80 (67.60 mid).
Long the Feb20 2175P
Short three Feb20 2075P
Long two Feb20 2025P
1/3/2 ratio paying 67.80. 10% allocation. Peak of the curve (max PNL) on Tuesday is 2084 (peak of white-line in image). Stops at 2107 (corresponds to expiration break-even). Last trading day is Feb19 with a "SET" cash settlement on the open of Feb20.
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In all seriousness, I literally don't know a single thing about trading but I've always been beyond curious about it. I seen where you posted some recommended books to read, I'll give them a look but I have a feeling even those might be a little over my head.
Anything else for a complete novice that's wanting to get into this?