1. Straddle vs Triple Straddle: Is there a benefit?

Data says, yes. Small benefit but there is some benefit. Especially when it comes to sharp moves on one side (Gap UP/Down) - Triple straddle stands better than a single straddle.

2. Single straddle at 32200 for May 20 expiry : 6Lots
Triple straddles at 32200, 32600 and 31700 : 2 Lots each.

At the center there is not much diff between the two. Similar Greeks (Theta & Vega mainly)

But look at the payoff profile. Triple straddle provides a much ...
3. ...Distributed profile which means the payout at expiry is not concentrated at one single point like a single straddle, but is spread over a range. Something like a strangle.

Psychologically, that gives comfort during a little extra volatility in the markets, ...
4. avoiding a couple of adjustments...

But a little more comfort comes from the fact that if market move too fast in one direction, or gaps up/down, MTM loss will be lower in triple straddles as compared to single straddle. Why? ...
5. I think thats because of how gamma behaves in case of an ITM option.
Lower MTM loss is a psychological comfort I tell you.
And look at the theta at this point. Almost same.
I have created this today (Friday),so, see how weekend decay looks like for the two system.
...
6. One issue that is rightly raised is regarding higher slippages. I agree that would be the case if you are going too deep in the option chain.
Practically, 500 points ITM on Banknifty is not too deep to create too much issue with slippages.
7. Yes, handling multiple strikes could be an issue. However, personally, I have been doing this using Sensibull, and it does make it a lot easier to handle.
8. At the end, trade the system with which you are comfortable. If you cant handle triple straddle, it does not matter even if its the best system in the world. Same goes for single straddle or any other setup.
@SarangSood @sanjufunda @jitendrajain @AshishGupta325
@raghavanand648

More from All

Master Thread of all my threads!

Hello!! 👋

• I have curated some of the best tweets from the best traders we know of.

• Making one master thread and will keep posting all my threads under this.

• Go through this for super learning/value totally free of cost! 😃

1. 7 FREE OPTION TRADING COURSES FOR


2. THE ABSOLUTE BEST 15 SCANNERS EXPERTS ARE USING

Got these scanners from the following accounts:

1. @Pathik_Trader
2. @sanjufunda
3. @sanstocktrader
4. @SouravSenguptaI
5. @Rishikesh_ADX


3. 12 TRADING SETUPS which experts are using.

These setups I found from the following 4 accounts:

1. @Pathik_Trader
2. @sourabhsiso19
3. @ITRADE191
4.


4. Curated tweets on HOW TO SELL STRADDLES.

Everything covered in this thread.
1. Management
2. How to initiate
3. When to exit straddles
4. Examples
5. Videos on
॥ॐ॥
अस्य श्री गायत्री ध्यान श्लोक:
(gAyatri dhyAna shlOka)
• This shloka to meditate personified form of वेदमाता गायत्री was given by Bhagwaan Brahma to Sage yAgnavalkya (याज्ञवल्क्य).

• 14th shloka of गायत्री कवचम् which is taken from वशिष्ठ संहिता, goes as follows..


• मुक्ता-विद्रुम-हेम-नील धवलच्छायैर्मुखस्त्रीक्षणै:।
muktA vidruma hEma nIla dhavalachhAyaiH mukhaistrlkShaNaiH.

• युक्तामिन्दुकला-निबद्धमुकुटां तत्वार्थवर्णात्मिकाम्॥
yuktAmindukalA nibaddha makutAm tatvArtha varNAtmikam.

• गायत्रीं वरदाभयाङ्कुश कशां शुभ्रं कपालं गदाम्।
gAyatrIm vardAbhayANkusha kashAm shubhram kapAlam gadAm.

• शंखं चक्रमथारविन्दयुगलं हस्तैर्वहन्ती भजै॥
shankham chakramathArvinda yugalam hastairvahantIm bhajE.

This shloka describes the form of वेदमाता गायत्री.

• It says, "She has five faces which shine with the colours of a Pearl 'मुक्ता', Coral 'विद्रुम', Gold 'हेम्', Sapphire 'नील्', & a Diamond 'धवलम्'.

• These five faces are symbolic of the five primordial elements called पञ्चमहाभूत:' which makes up the entire existence.

• These are the elements of SPACE, FIRE, WIND, EARTH & WATER.

• All these five faces shine with three eyes 'त्रिक्षणै:'.
How can we use language supervision to learn better visual representations for robotics?

Introducing Voltron: Language-Driven Representation Learning for Robotics!

Paper: https://t.co/gIsRPtSjKz
Models: https://t.co/NOB3cpATYG
Evaluation: https://t.co/aOzQu95J8z

🧵👇(1 / 12)


Videos of humans performing everyday tasks (Something-Something-v2, Ego4D) offer a rich and diverse resource for learning representations for robotic manipulation.

Yet, an underused part of these datasets are the rich, natural language annotations accompanying each video. (2/12)

The Voltron framework offers a simple way to use language supervision to shape representation learning, building off of prior work in representations for robotics like MVP (
https://t.co/Pb0mk9hb4i) and R3M (https://t.co/o2Fkc3fP0e).

The secret is *balance* (3/12)

Starting with a masked autoencoder over frames from these video clips, make a choice:

1) Condition on language and improve our ability to reconstruct the scene.

2) Generate language given the visual representation and improve our ability to describe what's happening. (4/12)

By trading off *conditioning* and *generation* we show that we can learn 1) better representations than prior methods, and 2) explicitly shape the balance of low and high-level features captured.

Why is the ability to shape this balance important? (5/12)

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