I am not up to date on Terry's latest modus operandi, but 5 years ago
he was a multi-strike calendar player. Generally, he would add new
calendars at strikes the market has moved to while sometimes, but not
always, taking off some calendars at the furthest OTM strikes. In
other words, every adjustment would either decrease the maximum reward
or increase the maximum risk. The risk is always swept further OTM so
he really has no plan on what to do incase of a cataclysm. Please
enlighten me if anything has changed.
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MARKETPLACE
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