Double Broken-Winged Butterfly in SPX | Option Trades Today

[@xavier_lucas]

Glad to see your video on my feed. I still watch a few other KZbinrs.. I've followed trades of a couple KZbinrs and I'm down so much…210k to 80k. It got addictive. My resolve is the lot are amateurs.

[@simone_maya]

You are not investing, man. Sorry. You are gambling.

[@westgibbs]

Before you make an investment decision, consult a fee only advisere, taking advice verbatim from youtube is like going to the intern to take lessons passed on from the professional.

[@BenRovello]

how can one get a fee-only planner?

[@westgibbs]

You can find them online, make sure theyre registered, have a fduciary responsibility with no disclosures, I work with MONICA MARY STRIGLE.

[@benalfredo]

Be careful not to be lured into the market too soon i rather be buying low in periods of instability than chasing when market starts to rally, this current situation has opened my eyes to the importance of a good mentor knowing what they doing.

[@BrokerBarbara119]

I'm using XSP with a small account and having a great time! Good Job!

[@tonybattista6335]

Perfect, making it your own.

[@86753091974]

Don't the spreads suck??

[@silverm3170]

Thanks for the video Tony. It would be helpful to see the risk profile to visualize what’s going on.

[@marklinda]

I'm very thankful for your assistance with these trades. I learn so much with "real" trades as opposed to paper trading.

[@tonybattista6335]

Couldnt agree more. Just go small to start with

[@loubob21]

Wish you would show the graph screen of these trades

[@akshay9602]

They never show it. Dont know why......

[@RobertBullock]

If you do both trades, does the platform recompute BP? Can't lose on both.

[@tonybattista6335]

That is correct. It does

[@RussAbbott1]

I always enjoy what you do on these trades. Thanks. (I already have a Tasty account.)

[@StephenVermeulen]

I like the iron condors in the 4-6 week range on SPX but this double BWB approach sounds quite interesting.

[@tonybattista6335]

Food for thought.

[@StuartXu-lm8jp]

Hi, I have the December spx 4500-4530-4620 BWB setting. Now the spx is around 4540. Should I take loss and close the setting or roll the 4530-4620 spread to next month? What’s your advice? Thanks.

[@cacanyonhopper]

nice explainations Tony!

[@davesokolowski1900]

Hey Tony like your content. I opened an account after watching both you and the White Board series. Wondering if you ever do unbalanced butterfly. Been watching 1/3/2 do pretty well. How about it?

[@jerryjoynson]

I love listening to your trade suggestions. I can see these videos are recorded on the fly at your desk, and you won't have the resources to do much more than you have. However, I do struggle to visualise the entirety of the position. I recall many explanations by 'Mike and his Whiteboard' where one can quickly 'see' the position that is being discussed. Is there any way at all you could capture the essence of what Mike used to do? Perhaps use a simple sketch pad on your computer desktop and draw on the numerous legs on a horizontal line, and for example using the above and below the line concept to represent being long and short, of each of the puts and calls perhaps?

[@tonybattista6335]

I'm only human! Mike is good!!!

[@tricksterinator]

@@tonybattista6335 You don't have to be good. Just show the risk graph. It's a click away, you could save a thousand words, and make 8.7K people happy.

[@davidc5657]

Good stuff! Batter up!

[@SublimeJR7]

Thanks for these videos Tony. The content and education you guys provide is unmatched. I'll be switching over to tasty shortly. You guys are awesome

[@tonybattista6335]

Appreciate the kind words!

[@dmitrikristensson1809]

Very interesting! Thank you!

[@gordonburger419]

Very much appreciate the trade education. I listened to your ratio spread idea but didn’t understand the why, perhaps some additional discussion of the why for the trade versus say IC if neutral or Debit spread for directional. Is that you try to get paid (credit spreads) as part of the reasoning?

[@thefactor4779]

What do you think about using a trade like this in xsp for a small account? Does it translate pretty directly?

[@tonybattista6335]

Yes it would but the credit would be very small.

[@bradstone9411]

new trader here, love these vids this stuff is above my head. but after learning for two years starting to understand what your doing 😂 would love to trade like this in my IRA I'll get ther one day

[@tonybattista6335]

All it takes is time. Been a 40 year journey for me.

[@ChrisDIY.Project.SPXtraderIT]

Tony, I prying Spx goes to 4380.00 or higher in next 8 days and then let the market burn back down for whatever reason just to clean up some some short delta position for the year . Kind of Crazy and interesting that you are doing the A.M time slot here. Have you ever pin a BWB to max value ? You got my respect Big Dawg , I am rooting for you ....

[@tonybattista6335]

Over the years? Sure butters pin but under 5% do.

[@chillin363]

Wish you would show the picture of tent-leg by leg.

[@viviaci]

How did you determine the strikes? Specifically the short strikes...

[@tonybattista6335]

Typically the short strike at a 1SD 15 delta or 30% chance of a touch

[@viviaci]

Awesome! Thanks Tony. Appreciate all you.@@tonybattista6335

[@aaronformella2869]

This is a very interesting trade, thanks for sharing. Maybe it could be dubbed the "Spider" since it's got 8 legs? How's it looking now with this breakout on CPI? Also, since so many legs, what other adjustments might you make besides rolling up the untested side? Thank you

[@SnappingTrtl]

These are great. Keep em coming!

[@chandkatyal7983]

How come you had -delta for call butterfly and +delta for put butterfly

[@tonybattista6335]

They are "Broken winged butterfly's" not butterfly's

[@YentyDjap]

thank you

[@RobOToole1]

the bwb™ is my favorite strategy!

[@tonybattista6335]

lol

[@kimyoungerman548]

How do you manage when it goes against you. With the rip your face off rally in the last few days, what steps do you take and when? Thanks

[@tonybattista6335]

Its been a .50 profit and about .75 loss since I placed the trade. Presently a .50 profit. You roll up the untested side - that is how you adjust. Nothing to do right now.

[@Chuck1262]

Like it!!

[@Deltaopcoes]

Thony,the best🎉🎉

[@guttybruin]

Why not just sell an Iron Condor? What’s the benefit or mindset with this trade? Thanks!

[@histaury]

I agree, it will good to hear a comparison between the bat wing strategy vs. iron condors.

[@tonybattista6335]

@@histaury An iron condor can only make the credit received - A broken winged butterfly can make over 5K in this example

[@tonybattista6335]

An iron condor can only make the credit received - A broken winged butterfly can make over 5K in this example

[@histaury]

@@tonybattista6335 Thanks for the reply. Is there an advantage one over the other if the trade is going against you.

[@gbinman]

thanks Bat

[@warever37]

Without showing the risk graph, this is kind of useless.

[@РусланДрачук-х7о]

good

[@actjustlylovemercywalkhumb4570]

would you pls show us the screen shot of your trade? thanks

[@nan6098]

So how did you manage this trade? It is now 4550.

[@tonybattista6335]

Took 300$ to 400$ profit per spread profit on 11/9

[@theMillerCode]

Do you call this trade, atlas or Mr universe... WOW! This trade needs its own segment ! 😂

[@tonybattista6335]

lol

[@norbertkoke]

Hi Tony… Your Traffic Enforcement Officers there don’t do business with people who complete the application but don’t have a Valid Driver’s License. They’re neither cute nor funny.