Volatility trading

Looking to get some mileage on the SPX hedge. Long the NDX Feb20 4275/4350/4500 231 in puts. 84.75 buys a 5% allocation.
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Bought the GOOG 500/545/590 put fly for Feb27 expiration. Paid $32.85 for it. IRA at 6.5% allocation. Only current position for the thread.

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11.4% allocation in my IB IRA in an SPX Feb27 2025/2075/2175 "231" put asym long fly filled at 57.30 (56.90 mid).

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The allocation figure does not equal "risk" per se. I would lose 10% on portfolio if the market fell/rose more than 10%. ~2% portfolio risk within one sigma on SP500.
 
infoslob said:
Poops! Whatcha think about this?

https://www.topsteptrader.com/
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The criteria for funding is nearly impossible to achieve, and they can pull funding at their discretion. Seems like a lot of work for a $50K stake.

IMO, scalping with /ES is very difficult. Swinging /ES is no different than going long Vanguard. Shops like these are not going to allow you to hold overnight.
 
I assume you're not putting on any more trades like this until the Greece shakeout is over?

Seems like it would be a big gamble because of the large swing that will occur when we know the outcome.
 
sasquatch said:
I assume you're not putting on any more trades like this until the Greece shakeout is over?

Seems like it would be a big gamble because of the large swing that will occur when we know the outcome.
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Nah, I can quantify it to an extent and I can't wait out every bit of news. They will likely get some extension. Greece and ECB agreeing on six month, but the Germans won't go for it. I'm betting on a three month extension to come out this weekend or more likely the following (wknd). Just a guess. I'd expect SPX 2117 to be the top for the week and may not touch.

I will put something on in my IRA in the morning. I was up 3% for the week overall at work (thread positions up as well).
 
Hey Poopi, Idk if this has been asked already but where do you work and what exactly is your position? All this stuff looks interesting.
 
I am a PM for a hedge fund in the EU. The fund has just under $6B AUM and I manage a small portion of that book from Lake Tahoe. All of my positions at work are OTC.
 
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