Bobby, I saw Blake Young this past weekend, and I told him about your channel. I told him that you draw the vwap every month and give Blake the credit. Hopefully he reaches out to you.
The same way you only add the shorts of the hedge on a down day, you should only place your income trades on a down day of greater than 1% or 2 consecutive down days greater than 1%. You need an edge and being opportunistic selling on higher IV is that edge. Selling purely based on dates is a catastrophe.
This, of course, was the major flaw with campaigning 11X trades. I sell volatility. VIX up = sell puts. VIX down = hedge (PDS or whatever). Doesn't matter if it's Monday or Thursday, 9:46am or 2:18pm. Entering both the long and short positions simultaneously will always leave one side with a disadvantaged relationship to volatility. Even though I got slammed on 8/5 like everyone else, trading opportunistically panned out MUCH better than had I campaigned based on time alone.
Bobby, this is what I do with my short butterflies, I sell two or three per week. With your verticals, maybe sell two per day to get your 10 per week. That will spread your risk out over more time. And or, go out 14 or 21 days at 2 per day (or whatever your account can handle) to get farther OTM. Roll down and out if price gets close to the shore strike.
Hey Bobby. I went ahead and played around with Option Omega. I did a backtest on 0dte iron condors and no matter what I tried I didn’t get a positive outlook. I made a video of it on my channel. I have tried testing some 7 DTE stuff and also having bad results. Doesn’t look like anything is viable when it gets backtested 😂😅
bobby how about selling the 365 DTE put and then buy like 3-4 puts in the 90 dte with a portion of your credit...Im doing this with 1 trade, very resiliant today, but overall we are in a uptrend the last 6 days so idk what would happend on consecutive red days
also my idea is close the short at 30-40% profit and i estimate that would be around 90 dte? based om your backtest of 40 days in trade in average for just the naked put
My fear is that you are becoming too complex. Keep it simple so that there is less to review and check. Is all of the concern with hedges a result of becoming too big prior to the volatility spike?
exactly. all those 'gurus' are still so shocked by the 8-5 volmagaddon that they are looking for a (non-existing) no risk trade holly grail. who told us not to chase the next shiny object.... 11x trades can be very profitable if sized properly imho.
Bobby, I saw Blake Young this past weekend, and I told him about your channel. I told him that you draw the vwap every month and give Blake the credit. Hopefully he reaches out to you.
@@snewogerg oh that’s really cool! Thanks!
The same way you only add the shorts of the hedge on a down day, you should only place your income trades on a down day of greater than 1% or 2 consecutive down days greater than 1%. You need an edge and being opportunistic selling on higher IV is that edge. Selling purely based on dates is a catastrophe.
@@loubob21 I feel you are completely right!
This, of course, was the major flaw with campaigning 11X trades. I sell volatility. VIX up = sell puts. VIX down = hedge (PDS or whatever). Doesn't matter if it's Monday or Thursday, 9:46am or 2:18pm. Entering both the long and short positions simultaneously will always leave one side with a disadvantaged relationship to volatility. Even though I got slammed on 8/5 like everyone else, trading opportunistically panned out MUCH better than had I campaigned based on time alone.
Bobby, this is what I do with my short butterflies, I sell two or three per week. With your verticals, maybe sell two per day to get your 10 per week. That will spread your risk out over more time. And or, go out 14 or 21 days at 2 per day (or whatever your account can handle) to get farther OTM. Roll down and out if price gets close to the shore strike.
There is no way to hedge that Aug volatility spike without taking losses on hedges every week and months for long time
Best u could do is stay small
Hey Bobby. I went ahead and played around with Option Omega. I did a backtest on 0dte iron condors and no matter what I tried I didn’t get a positive outlook. I made a video of it on my channel. I have tried testing some 7 DTE stuff and also having bad results. Doesn’t look like anything is viable when it gets backtested 😂😅
@@AlexDoesTrading I feel you! It all looks crappy!
risk it before biscuit. with a perfect hedge you’re not gonna make money… time for a session with uncle tony? 😊
@@tastytrader111 probably so!
lol. I love it when he says that.
bobby how about selling the 365 DTE put and then buy like 3-4 puts in the 90 dte with a portion of your credit...Im doing this with 1 trade, very resiliant today, but overall we are in a uptrend the last 6 days so idk what would happend on consecutive red days
also my idea is close the short at 30-40% profit and i estimate that would be around 90 dte? based om your backtest of 40 days in trade in average for just the naked put
Problem with backtests is it shows it till the end , it doesn’t show you closing losers or rolling
Closing losses early I mean
@@otisshaw1 depends on what you mean by early. if you mean by a specific DTE, or SL or TP then yea. The backtester can handle that.
My fear is that you are becoming too complex. Keep it simple so that there is less to review and check. Is all of the concern with hedges a result of becoming too big prior to the volatility spike?
@@svenskjimand yeah I feel like the hedges are the only guaranteed trade that we have after the August 5 debacle.
exactly. all those 'gurus' are still so shocked by the 8-5 volmagaddon that they are looking for a (non-existing) no risk trade holly grail. who told us not to chase the next shiny object.... 11x trades can be very profitable if sized properly imho.
@@SweetBobby “the only guaranteed trade” is not to trade.
@@svenskjimand I agree. We have to take calculated risks.