/biz/ - Business & Finance

>>53529475
I bought this spread in the morning as a form of longterm insurance.
What I should have done differently was check the IV of the far OTM call. That leg cost me $75, but only a few hours later, it's fallen to just $25. The rest of the spread still held up. Still, as the market goes up or down, or gets more volatile, this should do wonders.

>>53527078
Already did

Well lads, bought one year of insurance for $250. If the SPY moves more than 14% in that time, I'll print.
If it doesn't, it's business as usual and my trades will make me money
This strategy is long vega

I feel like I can't lose. And not because of the spread, but because of all the things I'm doing