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.
TWMT: Week Ending May 23, 2025: Closed One, Opened One
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