Butterfly Experiment

I am currently long 3 butterflys, discretionary trades:

  • VZ July 29/30/31 (Speculative) @ 0.22
  • QCOM July 39/44/49 @ 3.09
  • MSFT July 21/23/25 @ 1.07

I labeled VZ as discretionary due to the thin strikes. Thinner strikes tend to be much more volatile and my hope is to pick up a few of these before expiration as lottery tickets.

VZ apparently is experiencing some negative news flow from anti-trust threats. This news in particular doesn’t sound like a 12 sigma event headline, any litigation could take years or to faciliate but still I am down money on this trade.

~ by largecaptrader on July 10, 2009.

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