But calenders / diagonals are themselves a form/part of butterfly, i mean you can mix it how you want to, there exists no 'rules' I myself also found some value in diagonals as addition for a strategy, but simple stuff like gamma/theta nothing very exotic (It is possible to swap the ratio and when theta approaches zero to get almost infinite gamma (joking))
I am still going to give b-flies a shot but will take up your suggestion and also look at calendars and diagonals.
Just out of curiosity, what do you like about flys?? Is it a straight bet,I'm guessing you don't offset with shtock
Thanks for asking sir. Good question. Because it would be great if I can learn butterfly and trade like @destriero. It is also fun for this old dog to learn a new trick. Yes, straight bet.
“If I go bust, the bank goes bust. Not my problem.” Nice. It seems, that threshold for 'too big to fail' is not that high .
If you read books by Lawrence McMillan and Sheldon Natenberg, your head will spin. Tastytrade is great.
I think people can be successful selling cash secured puts, and covered calls without getting into complicated multileg options with different expiration dates. It's like engineering, you can be a successful engineer, without being an expert in differential equations. I think people can be successful selling cash secured puts, and covered calls without getting into complicated multileg options with different expiration dates. It's like engineering, you can be a successful engineer, without being an expert in differential equations.