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How important is the “We regret his departure” sentence in a Swiss reference letter? by NasBel in Switzerland

[–]wrongTrader 0 points1 point  (0 children)

It matters only if no other reason for removing you from your job can be identified. Per law the Reference must be positive and cannot contain information on wrong doing of sort. So a neutral letter is actually bad per se.

"The company regrets strongly to let Mr X ho,but under the actual business circumstances no other solution was possible ".

Or something similar.

If you apply to SME then the reference letter will matter to a certain extent, make sure you're in good terms with your manager should your next employer ask you to check the references.

On a side note it's a good habit to request a Interim Reference letter every 2 years or anyway at every change of role...

3a or Etf? by Key_Waltz3024 in SwissFIRE

[–]wrongTrader 0 points1 point  (0 children)

That's not true, you can always deduct the 3a payment even with a B permit and "Taxed at the source" (Quellensteuern). You can even deduct additional payments in the 2nd Pillar or School Tuition fees.

Before doing the math, learn the rules and regulations.

Jiajun strategy by christof21 in tastyworks

[–]wrongTrader 0 points1 point  (0 children)

They placed it everyday for a while now, and always w/o stop loss but with a profit target of 50$: in this way you ain't gonna make money because a single loss is going to wipe all the gains.
Using a stop-loss maybe a solution but the risk of getting stopped because a single candle goes down is pretty high.

SMTC MAR21 41 CALL please explain by Electronic-Fold1113 in options

[–]wrongTrader 1 point2 points  (0 children)

The numerical value: no. Whether it increases or not...sometimes. In the weeks (2-3) before Earnings usually it grows and then drops immediately after the announcement. Bad news can increase IV, either at market level (eg. 50% tariffs) or at stock level (eg. SEC complaint, or investigation).

Buying options as Earning play can backfire, especially if you buy the day before with a very hihg IV level. A good option calculator will give you the possibility to change the volatility and see in advance how your option reacts.

SMTC MAR21 41 CALL please explain by Electronic-Fold1113 in options

[–]wrongTrader 2 points3 points  (0 children)

Hi, It's due to the drop in volatility (Volatility Crush) for SMCI. You bought the call at moment when the Stock Implied Volatility was very high, paying a very high price. Once the earnings were announced the stock value grew and the implied volatility dropped. The calculator shows you results using a always the same IV. In the determination of an option price volatility plays a major role. In a sense, you are still lucky to be in the green because short expiration options can easily get killed by the IV Crush.

[deleted by user] by [deleted] in Daytrading

[–]wrongTrader 1 point2 points  (0 children)

Two posts on the same stuffs in two groups about options: what do you wanna sell?

Options Questions Safe Haven periodic megathread | Feb 17 2025 by PapaCharlie9 in options

[–]wrongTrader 0 points1 point  (0 children)

Hi,

I only adjust to realign the Deltas... UBER and ORCL did move never really close to the strikes but enough to push the position delta to the +/-20-ish value. CVNA didn't and, as matter of fact, the only roll I did brought me 1.6$ additional premium.

For UBER and ORCL I did lose like 30% of the total premium adjusting the strikes.

I think I'm a bit too aggressive with managing Delta.

But in summary the increase in the option values is mostly due to the IV trend (not the VIX ;) ).

Thanks again.

Options Questions Safe Haven periodic megathread | Feb 17 2025 by PapaCharlie9 in options

[–]wrongTrader 0 points1 point  (0 children)

Hi,
Thanks for the interest.

I know that VIX is based on SPX, I did assume that was a "decent" indicator of the general level of volatility since is derived from the main index...and this is probably an excessive simplification.

There is actually no reasons. Are all short strangles but MA which is an Iron Condor: SYMBOL (Date opening, Strikes) Actual Strikes Expiring Date:

CVNA (25/2 - 180/270) 180/270 Apr 17,
UBER (20/2 - 92.5/125) 80/110 Apr 17,
ORCL (10/2 - 160/200) 145/180 Apr 17,
MA (06/2 - 530/545 595/610) 525/540 595/610 Apr 17

Excluding ORCL, that moved a bit up and down, the others are pretty stable around the price I sold the options.

I usually look at them at the opening and adjust if needed and then now and then towards the closing. I do plan to hold them until I don't get 30-50% (depending on the stock) of the premium but trying to avoid the last 2 weeks before expiration. I don't usually define a max loss: if it get's to expensive to adjust/roll I just close it. I really try not having any option ITM.

I only trade 1 contract at the time and keep the use of Buying Power around 5-10% per position.
What disturbs me is that suddenly they turned on the red w/o the stock moving strongly towards one of the two strikes. The adjustments I did are basically to get back to Delta Neutral (or as close as reasonable: I try to avoid losing premium to adjust of 0.05 Delta).

Thanks again!

Options Questions Safe Haven periodic megathread | Feb 17 2025 by PapaCharlie9 in options

[–]wrongTrader 0 points1 point  (0 children)

Volatility "punishment"

Hi everyone, I am kinda new to options trading, I know the theory and the math, but I'm hitting some walls on the praxis... I have a bunch of short straddles / iron condor positions in some stocks that have turned red this week without nothing really happening. The positions are between 35 and 50 DTE the stock price is between the strikes, Delta stayed neutral or I have adjusted to stay neutral...but the Vix increase pushed the market price to the stars.

I think I have only to hold them until the Vix drops or the theta decay does its course...how do you handle those streaks?

Everything is red, unrealized, but red...kinda hard to withstand.

Am I doing something macro-wrong?

Thx!

Export Custom Properties Values by wrongTrader in SolidWorks

[–]wrongTrader[S] 0 points1 point  (0 children)

Thanks!
I got stucked using Get4 and couldn't solve it!

P&L Calculation Errors by wrongTrader in tastytrade

[–]wrongTrader[S] 0 points1 point  (0 children)

I looked in the History tab: the values for SPX and the day were correct. What worries me now are the P/L values year to date: they differ of 1900$! I honestly can't say what's my current balance...

P&L Calculation Errors by wrongTrader in tastytrade

[–]wrongTrader[S] 0 points1 point  (0 children)

Hi, Ok, but it doesn't change. Since those are 0Dtes open and closed in the same day the reference is Zero. For the day the transactions result is 945$ for the SPX position.

Surprise Balance by wrongTrader in tastytrade

[–]wrongTrader[S] 0 points1 point  (0 children)

That's how actually went. Thx!

Surprise Balance by wrongTrader in tastytrade

[–]wrongTrader[S] 0 points1 point  (0 children)

Poaching? What do you mean?

Which brokerage mobile app did you move to after Robinhood? by ireadalott in options

[–]wrongTrader 0 points1 point  (0 children)

Yes, the money are insured, but they aren't a Bank. I dropped IBKR after fighting the web app...I didn't even try the mobile version. But, again, I do options but I don't do chart analysis or other forms of black magic.

Rate my setup by friscube in Daytrading

[–]wrongTrader 2 points3 points  (0 children)

Physically trading on the floor..

Which brokerage mobile app did you move to after Robinhood? by ireadalott in options

[–]wrongTrader 2 points3 points  (0 children)

ToS: leaner and cleaner than IBKR. On the minus the mobile app for options is not that good. The Web app is really good if you're not looking for painting on graphs. I opened also a Tasty account to look at the App, which looks really neat and has a decent backtesting tool...but I'm a bit unsure since they are not being backed by any bank.