Call Ratio Spread in /CL

/CL bearish call ratio spread with a discussion on the size difference and buying power changes with SPAN margin. Yes! You can do this trade in an IRA account at tastytrade
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[@camhouston7387]

Considering you call yourself “the worst commodity trader”, you have a pretty decent win rate from what I’ve seen! Thanks for sharing man. Really appreciate what you guys do.

[@tonybattista6335]

I try.

[@_aisolo]

Solid video Bat! Definitely a big boy trade I’m a Jonny lol Sticking to MCL. Have a strangle from a few days ago. And man even in MCL it can grow teeth lol And margin too haha So it’s DEFINITELY something for people to be aware. So I’m glad you mentioned that in the video. Managing size is what short premium is all about. 💯

[@tonybattista6335]

Good luck! Volatility contracted nicely today

[@jayeshchhabra5329]

I wish you guys posted another, smaller, trade as well. Nonetheless this is still useful as I'm sure this will be a trade I'll be able to put on eventually. Thanks 🦇

[@J3WT00B]

/MCL

[@tonybattista6335]

Good point.

[@michaelernst9124]

Followed you into this trade with the long $92.5 call and short 2x $100 calls for $0.34. As I have also 2 short Puts at $55 it required no additional buying power.

[@tonybattista6335]

I closed it for 100$ profit in 48 hours. Same as right now.

[@TerraPrieta]

Let’s go!!!!

[@loubob21]

Why not a typical strangle? What makes one choose this strategy instead?

[@BCNeil]

He did a $300 trade. A strangle is so much larger. I sold the Nov 15th strangle 63-86. They are over $2700

[@loubob21]

@@BCNeil I guess then I have to ask why not an iron condor? I really only see upside risk on oil so I would not be long IMO

[@tonybattista6335]

@@loubob21 This trade is short delta not long delta. IC has risk to both sides and wont contract as fast when volatility contracts like vol contracted yesterday, allowing us to make 100$ in 48 hours.

[@truthwillalwaysprevail]

Thanks for explaining it. At what point you close it to minimize the lossit. What happens if it goes above your short leg. Is it cash settled? Can you roll it to prevent loss? Will you use MCL for a small account?

[@tonybattista6335]

All good questions. If my delta increase to -15 I will sell a put to reduce my short delta by 50%. You can always roll but that wouldn't prevent a loss without the product going lower.