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  • #10,341
  • Aug 25, 2015 9:11am Aug 25, 2015 9:11am
Quoting ZebraSquirl
{quote} Fantastic job ... .
thank you
  • #10,342
  • Aug 25, 2015 9:24am Aug 25, 2015 9:24am
those indices have still got some way to go to recoup yesterdays fall, if it doesn't then a dead cat comes to mind. Wonder how soon before we hear of a major Chinese firm on the brink of bankruptcy.
  • #10,343
  • Aug 25, 2015 9:59am Aug 25, 2015 9:59am
Gradually attempting to balance delta on those short put verts that are leftovers from "broken" index ETF iron condors (call sides taken out at/near worthless) ... . Don't want to get caught in a whipsaw to the upside, so I'll do this over several days ... .

FXE/EURUSD gradually receding off its highs ... . Flight to the Euro?! That's a sign of true desperation ... . Yen, I can kinda understand ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,344
  • Aug 25, 2015 10:04am Aug 25, 2015 10:04am
Quoting The Fool
{quote} without looking at that I can tell you I have given up on most anything except VXX - occasionally I will gamble on UVXY - but the wide spreads and illiquidity of UVXY & SVXY suck...
That's pretty much why I rarely do them ... . Really, if I was particular mechanical about it, I would never enter UVXY/SVXY trades due to liquidity ... . Just wish I could get more juice per contract out of VXX ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,345
  • Aug 25, 2015 10:22am Aug 25, 2015 10:22am
Well, we see a deep V in the making, could rival Oct 14.....some trick, huh? - we got the coveted 10% "correction", and the exchanges locked everyone out at the bottom (except for you know who) due to "quoting problems" and breakers, etc. Fuckers. Now we're back to late August calm. Soon to be replaced by pre-Sept-FOMC jitters? we'll see....I won't be surprised to see /ES bounced above 2000 by week's end....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,346
  • Aug 25, 2015 10:30am Aug 25, 2015 10:30am
Quoting The Fool
Well, we see a deep V in the making, could rival Oct 14.....some trick, huh? - we got the coveted 10% "correction", and the exchanges locked everyone out at the bottom (except for you know who) due to "quoting problems" and breakers, etc. Fuckers. Now we're back to late August calm. Soon to be replaced by pre-Sept-FOMC jitters? we'll see....I won't be surprised to see /ES bounced above 2000 by week's end....
Shit drives me bonkers ... . Back to the BTFD cycle, the Janet Yellen dance ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,347
  • Aug 25, 2015 11:05am Aug 25, 2015 11:05am
Got my delta flattened out a bit while keeping a good deal of powder dry ... . Resisting the urge to roll the short put sides of those broken IC's until I get closer to expiry on these. The nearest is like four weeks out and tons of crap can happen in that time ... . No sense in paying commissions/fees once to roll here and then a second time if everything turns into a ginormous, steaming pile ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,348
  • Aug 25, 2015 11:07am Aug 25, 2015 11:07am
Quoting ZebraSquirl
Got my delta flattened out a bit while keeping a good deal of powder dry ... . Resisting the urge to roll the short put sides of those broken IC's until I get closer to expiry on these. The nearest is like four weeks out and tons of crap can happen in that time ... . No sense in paying commissions/fees once to roll here and then a second time if everything turns into a ginormous, steaming pile ... .
Will be totally pissed if vol bleeds out of the market before I can get my weekly 45 DTE mechanical index IC trade on ... . Shit was just too wild when SPY IVR was at 100, although I was mighty tempted ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,349
  • Aug 25, 2015 2:44pm Aug 25, 2015 2:44pm
the swings in S&p.. they are unnatural
  • #10,350
  • Aug 25, 2015 2:46pm Aug 25, 2015 2:46pm
lotsa money changing hands today in the spoos after the clock cleaning yesterday, today another 300mio+ shares for SPY, I'd bet. Not surprised to see profit taking to close the day - & I bet in AH we see bulls back. Shanghai tonight will likely post fat gains, so the West to follow that Wed with more green. But I fear it won't last long. The overlords are packing for Jackson Hole. The season (of cheap money and its dubious benefits) is changing. Change is good. SPY just slipped into red for the day as I type......

I'd like to see a week or so of bullish action, take SPY back above $195 for a few days. Then I would be able to get out of ill-placed Sept $191/$188 puts and load up on cheap(er) VXX calls and other bearish ordinance. The Fed is likely going to throw out a 10bps bone to the bears on Sept 17...I want me some o that....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,351
  • Aug 25, 2015 2:48pm Aug 25, 2015 2:48pm
Quoting darimik
the swings in S&p.. they are unnatural
daytrader algos control the boards, I have lost track of what "natural" means in this context.

All I did today was some Sept/Sept4 SPY calls, $207/$207.5 diagonal....for 5 cents....just in case the Fed caves and the bulls complete yet another epic V
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,352
  • Aug 25, 2015 2:50pm Aug 25, 2015 2:50pm
Quoting darimik
the swings in S&p.. they are unnatural
Some of the "delta balancing" trades I put on earlier today have already been taken out at 50% max profit, resulting in "3 round trips." That happens extremely rarely to me ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,353
  • Aug 25, 2015 3:00pm Aug 25, 2015 3:00pm
I would have thought that market uncertainty would've led to flight into TLT ... . Nope -- off 2.00 at the close ... . Used to be, that would be telling you something (i.e., risk off), but these are weird days ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,354
  • Aug 25, 2015 3:05pm Aug 25, 2015 3:05pm
Quoting darimik
the swings in S&p.. they are unnatural
the same thing was said in 2007 and then what happenned
  • #10,355
  • Aug 25, 2015 3:10pm Aug 25, 2015 3:10pm
Quoting ZebraSquirl
I would have thought that market uncertainty would've led to flight into TLT ... . Nope -- off 2.00 at the close ... . Used to be, that would be telling you something (i.e., risk off), but these are weird days ... .
I think TLT these last days is telling us the bond market is getting ready for the Fed to come through. I have been looking at cheap puts diagonals - I'd bet TLT will be under $120 within the next couple weeks, maybe test $115 in Sept....

At the close, watching SPY bounce AH, I tried to fill a weekly $191/191.50 bull calls for 18c - it ran away from me....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,356
  • Aug 25, 2015 3:13pm Aug 25, 2015 3:13pm
Quoting The Fool
lotsa money changing hands today in the spoos after the clock cleaning yesterday, today another 300mio+ shares for SPY, I'd bet. Not surprised to see profit taking to close the day - & I bet in AH we see bulls back. Shanghai tonight will likely post fat gains, so the West to follow that Wed with more green. But I fear it won't last long. The overlords are packing for Jackson Hole. The season (of cheap money and its dubious benefits) is changing. Change is good. SPY just slipped into red for the day as I type...... I'd like to see a week or so of...
I could use some bullishness here, temporary or otherwise ... . A lot of short put vert on that is ITM; plenty of time to go and the nature of things and all that, but I just don't like seeing it ... . Got spoiled on that range-bound crap we've had from mid-March 'til last week, I guess. Need to man up ... .

Still did not get a fill to close that Sept 4th 98/101 SVXY short call vert ... . Both legs are now going for .025, and I'm asking for less than that ... . Hosers.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,357
  • Aug 25, 2015 3:14pm Aug 25, 2015 3:14pm
crazy day, watching my P/L's swing many g's up/down, can't complain about elevated vol, though
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,358
  • Aug 25, 2015 3:17pm Aug 25, 2015 3:17pm
Quoting The Fool
At the close, watching SPY bounce AH, I tried to fill a weekly $191/191.50 bull calls for 18c - it ran away from me....
I have a knack for missing by a copper
"If The Fool persists in his Folly he will become wise." - William Blake
  • #10,359
  • Aug 25, 2015 3:18pm Aug 25, 2015 3:18pm
Quoting The Fool
{quote} I think TLT these last days is telling us the bond market is getting ready for the Fed to come through. I have been looking at cheap puts diagonals - I'd bet TLT will be under $120 within the next couple weeks, maybe test $115 in Sept.... At the close, watching SPY bounce AH, I tried to fill a weekly $191/191.50 bull calls for 18c - it ran away from me....
Probably right about TLT -- pricing in the hike ... . Or pricing in Jackson Hole jawboning ... .

FXE back above 112, but off by a buck and a penny ... . GLD off 1.27.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #10,360
  • Aug 25, 2015 3:25pm Aug 25, 2015 3:25pm
Quoting The Fool
crazy day, watching my P/L's swing many g's up/down, can't complain about elevated vol, though
Think my P&L has swung $3k (high to low) in the past two days, which is like 10x more than usual when I've got stuff neatly delta balanced ... . This is the exact kind of market in which dry powder is a necessary evil ... .
Fireworks are fun ... as long as you don't blow your fingers off.
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