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Yes I was mainly because I was doing naked options.
On 7/31/15 I sold ESx5p1650 naked 3xIM. Big loser.
I also sold on 8/6/15 ESx5p1700p1500 1x1 and only used 3xIM. That was -4.40 delta on short and -1.12 delta on long. Loser.
I had just started to research spreads and the one I had on was not the correct delta or excess to ride out Aug 2015.
My one short (-5 delta) two long (-1.5 delta) 6xIM spread or the two shorts (-3 delta) three longs (-1 delta) 4xIM spread would have survived Aug 2015 with no losses.
Backtesting these spreads since 2012 for every single day has shown they would never had a losing trade. Of course they would have lost money late 2008. But it was obvious you shouldn't be selling puts late 2008.
On 6/19/17 I sold EW3v7p2075(1)p1800(2) for 6.25. Exited today at 3.00. 31 days held. Used 6xIM. Net Delta was approx 4. Profit at 45%. mROI was 5.2% useing TFOpts and Ron's formula. I noticed if the trade is not in the range DTE: 90-120, in this case 123 it takes longer for decay. Or maybe higher net Delta plays a role too.
Does different ratios such as -2 to +3 vs -1 to +2 actually increase or decrease the number of days to liquidation? or maybe no effect at all.
You will have much fun with it. I owned RVs (or "Wohnmobile" in German) for many years. In Germany these cars are usually smaller, and based on a regular Volkswagen-Bus.
@ron99 On 6/5 you sold a spread, closed it on 7/12 and on 6/29 you sold a spread, closed it on 7/19. Do you purposely divide your account to have 2 ES trades on with 2 different expirations?
I try but I am not sure it is necessary. I have a small account that only has one ES spread trade on at once and I am not seeing any difference between that one and the other ones that have on 2.
BTW I just calculated my days held average for 2017 and it is 27.3.