The Floater Trade

by Tom Nunamaker | Nov 3, 2014 | Options trading, Trading

Jim Riggio put an SPX trade on about two months ago when the SPX was at 2000. Jim put a 90-day (DEC expiration) 1975/2000/2025 butterfly on. Nothing fancy or unbalanced. I put the same trade on the next day. Jim and I took two different approaches to managing the...

The Round Table: SPX Broken Wing Butterfly and VXX/UVXY Trades

by Tom Nunamaker | Aug 22, 2014 | General

The Round Table meeting had two parts. Tom showed the SPX Broken Wing Butterfly trade he's been trading. Then Jim showed his VXX and UVXY volatility based trades he's been doing. We recorded this event and it is posted in our free members area. Get your free login...

SPX Aug 23 (W4) Broken Wing Butterfly

by Tom Nunamaker | Jul 21, 2014 | Options trading, Trading

Time for a new trade in SPX. Another broken wing butterfly trade expiring on Aug 23rd with 33 days to expiration. The ten lot of puts are at 1945/1920/1860. The 1920's were about a -19 true delta (in OptionVue). I sold two lots at a $1.90 credit and eight lots at a...

SPX Jul 17 Broken Wing Butterfly

by Tom Nunamaker | Jun 21, 2014 | Options trading, Trading

Time for a new trade in SPX. Another broken wing butterfly trade expiring on Jul 17th with 28 days to expiration. The eight lot of puts are at 1950/1930/1870. The 1930's were about a -22 delta. The trade was put on with a little smaller credit than I like, but it's...

SPX Jul 11 Broken Wing Butterfly Trade Started

by Tom Nunamaker | Jun 14, 2014 | Options trading, Trading

I put a new SPX Broken Wing Butterfly trade on yesterday with 29 days to expiration. It's an eight lot at 1910/1890/1830 with a put debit spread at 1910/1890 for a next credit of $926 on $31,574 of Reg T margin. That would be +2.93% in 29 days if held to expiration...