TWMT: Week Ending May 23, 2023: Closed One, Opened One

This week I finally close the long running fly-turned calendar that I've had on for the past month. The important part of that trade is how I worked to minimize the loss of a doomed trade by managing my Greeks. It's not something I want to do all the time, but sometimes, it's as good as you can do. There's also a good lesson in IV with a VIX diagonal which got messed up last week.

This series is all about learning and there's plenty to learn in this one.