Exiting fully scaled in Rhino

J

Johnny W

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Gold Member
Any advice on exiting a Rhino trade that is fully scaled in - 2 - 5 contract tranches 70 points apart? No hedge.
  • Exit entire trade at once?
  • Exit each BWB, if so, which one first?
  • Exit the component PCS/PDS spreads. If so, which first?
Any good references to managing the exit? Have not found any with detail.

Thx in advance,
JLW
 
It's hard for anyone to determine what to do when there is no reference on how the position looks at the moment
A screenshot of the risk graph or perhaps the opened and closed positions list might be helpful
If it's in the profit and the market is calm it should not make any difference which one you do first
If it's moving I prefer to close the loosing side that way there is a chance that the other side can gain a little more
If it's ITM it may be difficult to close so you may have to do a box trade
Also spreads are easier to get filled compared to BF or condors
 
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Sorry for delayed response.
I chose to close the upper fly and a fly.
Are there other possibilities such as either closing the lower, closing vertical spreads, closing shorts, etc.
Can you possibly point me to any specific resources that address the possibilities.

On recent trades I have been attempting exits during the last 1 hour.
I may exit the upper without a problem, but then have significant problems exiting the lower at a reasonable price due to widened bid-ask slippage.

Lastly, is there anyone actively mentoring r/e the RHINO trade?
Is Bruno currently mentoring?
Is his skype community still going? If so, how would I seek admission into the group.
What is the best way to contact Bruno?

Thanx in advance,
JLW
 

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You can look on Youtube and search for bruno rhino trade and you will see a lot of the videos that bruno and other have made so you may find some clues there I believe Bruno is no longer doing any mentoring Not sure what is on skype as I am not subscribed

You could try to exit with 2 spreads or try to box it in You can also turn it into a condor There are all kinds of possibilities each one with it's plus an minuses so it's hard for someone not in the trade t advise what is best You could also just reduce the risk on the lower side depending on how much profit is left after closing the upside fly
 
Johnny W said:
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Sorry for delayed response.
I chose to close the upper fly and a fly.
Are there other possibilities such as either closing the lower, closing vertical spreads, closing shorts, etc.
Can you possibly point me to any specific resources that address the possibilities.

On recent trades I have been attempting exits during the last 1 hour.
I may exit the upper without a problem, but then have significant problems exiting the lower at a reasonable price due to widened bid-ask slippage.

Lastly, is there anyone actively mentoring r/e the RHINO trade?
Is Bruno currently mentoring?
Is his skype community still going? If so, how would I seek admission into the group.
What is the best way to contact Bruno?

Thanx in advance,
JLW
Click to expand...
He has indicated he is retiring. His Slack group is still active, and he actively posts there. I think you can reach him at [email protected]
 
I think the best way to contact Bruno these days is his Slack group where he posts updates on his trades: bwbflies.slack.com
You can ask for an invitation link from his Facebook group (no longer maintained but he replies to MPs): https://www.facebook.com/optionsmasters

Note that he is preparing for retirement though, so I don't know how much time he will still be active on the group for.
 
Christophe said:
I think the best way to contact Bruno these days is his Slack group where he posts updates on his trades: bwbflies.slack.com https://3dtrcek.com/en/pla-filament
You can ask for an invitation link from his Facebook group (no longer maintained but he replies to MPs): https://www.facebook.com/optionsmasters
https://piktid.com/
Note that he is preparing for retirement though, so I don't know how much time he will still be active on the group for.
Click to expand...
Try his Slack group for updates—Facebook messages work too, but he’s semi-retired
 
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