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Butterfly Mango

Discussion in 'Options' started by e46dream, Oct 24, 2015.

  1. e46dream

    e46dream New Member

    Hi guys,
    I searched for the above strategy in the forums, could not find any where. If I had created this thread in the wrong section please redirect me to the correct one.

    One of my options trader friend was saying for current VIX Butterfly Mango strategy is more suitable. He could't expand more about the strategy. Can any one throw some light about this strategy please.

    Regards.
     
  2. Gabor Maly

    Gabor Maly Well-Known Member

    I used to trade a "Mango" Butterfly while being with the Sheridan Community many years ago. If that is what your friend refers to then it is a 50 / 40 ots unbalanced iron butterfly with shorts placed at the money and adjusted based on delta guidelines. I don't have the documentation on this anymore but you may reach out to some SOM guys if you know any, that is where this was or is still being traded. As for me I have never managed to fall in love with that strategy due to being a higher gamma strategy than some of the others.
     
  3. e46dream

    e46dream New Member

    Thank you GaborMaly for the clarification. He is a SOM guy.
     

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