I went to the low resolution replay of the seminar at :
http://www.theoptio
and tried to figure out the actual adjustments he mades to his
threatened call credit spread, -5*875C +5*895C.
The first adjustment was the simple butterfly rollover:
5*875C -10*895C + 5*915C
The second he called an "asymmetrical butterfly rollover". I couldn't
read the markings on the graph but from its shape he seemed to have
added 10*875C - 15*895C to get the ratio, 5*875C - 10 *895C.
He called the third a "butterfly ratio rollover" but it looks to me
like he created a backspread. I think he simply added something like
5*895C to the position.
I hope somebody takes a look to see if they agree. Thanks.
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