Very difficult to close option Butterfly trades!!

HTF did you ppl derail this idiotic thread?

 

I dunno if my orders ever go to a broker. The counterparty is always CBOE on my trade summary.

 

you need to exit in a single leg, not as a combo.

 

He can't. He would be debit on risk in covering any leg.

 

You're to blame. Your writing needs improvement. Know your audience.

 

I don't understand. It's so deep ITM it's highly illiquid, but regardless, as it is worth $0, why would you be able to get out of it for something better than $0? You could let it expire at $0 in a few days. I guess you are thinking because of the price bouncing around on a second to second basis that you could grab free money? It's not actually marketable though.

All I have to say is, Poopy is a saint for continuing to teach in multiple replies and taking different approaches to see if you can get his points.

 

People are just replying normally to a legit question, you are the one that is trying to insult everyone.

Remember this: when you think that everyone around you is an idiot, you are the idiot.

 

It's illiquid but it's = to the put fly. The OP sees marks where he's up due to trivially short delays in updating the the individuals as the mkt moves. He sees those as marketable hence why he initially showed a favorable mark in the first pic.

It's marking to a mid that is fantasy. He's taking it as a contractual. I'd be a billionaire if it were true (mid as always executable).

 

chef brought up trading flies and the complexity wrt comms. That's not the point.

 

you’d be a trillionaire if you traded a million contracts at a clip.