Sharing a strangle that I’m placing in paper money. Let know what you think. AMZN earnings are tomorrow. AMZN Oct 28 925/735 1.67 credit. I have been testing these by putting them on the day before.

My turn to share – I am learning to trade another type of butterfly called fly on points. On the day before Jobs data comes out – Nov 4 which will be Nov 3, I am going to put on this fly on SPX –
1. buy 1 OTM call at 25 delta
2. sell 3 further OTM calls at 15-20 delta which if 10 points above #1
3. buy 2 even further OTM calls – 20 points above #2 or approx 7-10 delta
You should get a credit and the goal is too keep 100% of credit received. If you lose 2X credit, get out. You much check on trade at least once per day. You must get out of trade by last week of month expiration day. Here’s an example.
http://screencast.com/t/bNufiAUETs

Thoughts on this trade CMG Sept 16 450/460//380/370 for .85 cr

Has anyone here read the book Profiting From Weekly Options by Robert J. Seifert? He talks about selling bear calls & bull puts options with a delta of 60/40.

how do we manage the trade, SPX iron b’fly? Needs some advice from anyone.

Hey rknight52 – I was looking at the broken-wing butterfly while reading about it on TT & accidental submit it in my real money account. So, I’m going to be following you. Sometimes it’s best to do it in real money because I follow it closely. I have a tendency to neglect paper money. I did the AMZN APR 16 695/695.50/605 for 1.97 credit.

my GOOGL Trade placed earlier this month is finally profitable. I took the 700/680 bu put.

STO GOOGL Apr5 700/680 2.85 cr.