Video

OK this is kind of a confusing video because you have how many strategies here you have the iron butterfly you have the iron condor and then you have at the end up buying calls and put it doesn't seem like this is an ideal strategy especially if you're on a platform like Robinhood you can't even trade it to B SXPY andthey will get you out of the trade you know at like 315 or whatever if you are in the money. But it's interesting to look at it

EE is excellent for it's incredible depth of information. Thanks! One question: does it matter if you enter the trade 12DTE or 3 DTE I'm not sure if I understand correctly if the DTE is included in the backtest data.

Wow I run this on spx for last 3 weeks and I got it down but thanks for this tool! I usually use option strat calculator just to see where my breakevnns are. Trust me try running it 70 points out each way. Risk 7k to make 3k or two lots. When I close early because it nears my beewkeven I’m closing at least 800 plus profit. Yup butterflies cons are that u need to be dead on at close to hit 100%. This past week before the last two days I let mine exp for 97% and the other 95% two days in a roll. The time I been backtesting it, only once had it exp 99%. I usually never let it exp unless I clearly monitor until 12 and confident that even if it has that last 10 min spike I would still be good. I usually aim for 55% but been learning to take it at 23% because I still net over 800

When you will have API to Interactive Brokers ?

I’ve been trading the short Iron Butterfly part of this strategy for quite awhile with decent success. I think it’s important to share that getting filled at $4.50+ on a 5 wide ironfly 90 minutes before the close - is not easy unless SPX is trading at least 10 points away. And of course - if we’re trading 10 pts away from the center strike, the probability of profit is pretty low (like really low). I like the idea of layering the long Iron Condor - thank you for sharing Jack!

Hello Jack, Thanks for doing this, could you please make a video especially, i was not sure how you bought those protective legs within the trade,Thanks

Did this make ~$135 at close (with SPX closing at ~5475 that day), or did you work the legs early?

Nice Video. Can we can backtest using third party Buy/Signals signal?

please make more video about 0DTE SPX… thx

How come you can't make a bot automatically out of these?

I don't get it. Why is it that you are looking at historical data to speculate what will happen now with ODTE? Isn't the disclosure that past performance is no guarantee for what's to come. Just help me understand this concept please.

Amen! I've subscribed to OA since January - they communicate in straightforward and understandable manner for this retiree. BTW, because of them I'm mostly "in the green"! Thanks OA (ps - this is not a paid endorsement)

Good to see you Jack! What a GREAT valuable feature we have now with 0DTE! Thank you OA team for always giving us goodies!

boom share your bot you mook so I can fix it for you LOL

Why not just use 1 wider fly from the get go?

Witch time of the day you buy it and sell it?

Love it and your tshirt too btw. Peace

The trades didn't age well. All of your hunches didn't pay off and they all moved the opposite direction. Am I correct that you lost money on all of these trades?

Great Job Jack. What is your exit strategy?

SPX? It's a miracle! Praise ...

That's a great news! Possibility to trady SPX is a gold. Plus screener for 0dte...

A strangle, an iron butterfly, and an iron condor goes into a bar... I'm interested in seeing the combined risk profile.

Nice!❤

What's this?

What do you think is the best options strategy?Iron condor,Butterfly,Call debit spreads? New to options

How do you rollover trade with OA?

deberían meter un bot GRID o DCA para acciones

Is Kirk still part of the company?

Nice strategy, thanks for the video. Unfortunately, the worst case scenario occurred today. Orcl is at 135 leading to max loss. How do you handle these? Just take the loss? How much percent of your portfolio would be in a trade like this?

Wait so you basically got the max loss? ORCL up 10% after earnings

132 after hours, sorry

thank you

Do you have any course or classes to learn from? I am new to this space and would love to learn Options. At the moment I’m self teaching and researching.

Vouching for you Jack. Great video. Thank you OA

Can you use TOS for the trades?

Watching this a bit late and hoping to catch up, but I don't understand how you ventured into those trades with those negative Alphas and EVs at 8:00? Isn't that against the earlier recommended approaches? Do you need them to be negative for contrarian or outlier bets?

This was an awesome tutorial on Options Trading 2.0. i took a break from trading to open a franchise and now I am looking to get back into trading and leveraging the Option Alpha platform! THanks for this!

Amen in the name of God. I don't have any knowledge, I follow Sigma and I see that they have a Society. I would like to know if with a capital of 2.5k it can be profitable?

Thank you Jack. Do you have any backtesting data on this?

Jack, would this formula work for neutral short-term trades like Iron Butterflies, where max profit is rarely (if ever) captured? If so, would you use the Probability of Profit % (the gravy as you called it) vs the Probability of Max Profit % to set up your calculations? Also, will this formula be built out as a recipe to add to automations? It seems like the numbers will be different for each possible trade, so how can it be utilized w/o placing trades manually?

A very interesting video, in my understanding the result of the division should be a maximum of % R/R and not a minimum because every percentage above the result means a lower chance of profit and actually an increase in the chance of loss

the extra gravy " ) is theta and IV drop .. like this way better than the coin flip " ) If you see Kirk see if he knows where that 52 cards in a deck vid he did moons ago is hiding should be shared far and wide " ) changed the way I trade BOOM

Story

What about the implied odds? There is still one more betting round to go after that river comes out. If you hit that heart, you may win his whole stack if he has two pair, a set, or a lower flush.

I like that formula. Unless I am not seeing it, that doesn't appear to be calculated in the stats. Or is that essentially factored into the EV value?

Yes, it may take a while for the value of a probability approach to show a durable edge. However, waiting for 1,000 trades to see an edge is waiting too long. If that happens, some part of your modeling is flawed.

3 out of 100 bots, who do I give my credit card number to for that plan? haha I really like your using other examples of using probabilities, ie poker and sports betting, I personally enjoy both of those as well. While I knew the principle of your r/r needed calculation I've actually never seen the formula to use to calculate it, thank you! One thing about getting down on your earnings plays, iirc, you only had to hit 1 out of 5 to break even. 1 round of 5 trades with high risk/rewards failing isn't a big enough sampling imo, and I really liked your mixing in of long trades as its easier to get to a higher risk/reward

If I thought i could make more than the monthly fee, it would be more interesting.

You left out the 3 aces which would possibly give you best hand. A 3x raise on his bet is best move in this situation. You can't compare to options because you can win MANY hands in poker without having the best hand

Hi Jack. On the liquidity stats info box there is a figure there called "Scalp each". Could you explain it's purpose please. Ian