#### JorgeOrvananos

##### New Member

__Dear David,__I discovered your youtube videos and I was fascinated. While I have studied and understand the basic concepts of options, there is a puzzle that I am trying to solve BUT I am having a very hard time and I was curious if you are kind enough to offer some help. You seem to be a genius in this subject and I really don't know who else to ask now (given that everyone is at home). It would mean a LOT to me if you can help me solve this puzzle.

I am attaching a spreadsheet that has Calls and Puts data. For each CALL Strike (in each row) and PUT Strike (in each row) there are columns with the following information: Last Price, Net, Bid, Ask, Vol, IV, Delta, Gamma, Int.

I am thinking that to solve this puzzle I only need Delta, Gamma, and Int (open interest) for calls and puts.

__SO HERE IS THE QUESTION AND THE PUZZLE THAT IS BREAKING MY HEAD:__For the purpose of this analysis I am making the following 2 assumptions:

1) That there is only 1 market maker out there writing options, AND that the spreadsheet with calls and puts are basically his current book.

2) That he wrote to me and other market participants the calls and puts that he has on his book (so he. is short all these calls and puts).

So, he is short the calls and short the puts because the market maker wrote them... SO I AM ASSUMING THAT THE MARKET MAKER is selling a form of a straddle.

Here is the question - HOW CAN I FIGURE OUT THE MID POINT OF THE MARKET STRADDLE?"

Someone that does this for a living told me that the $2,840 Delta Neutral AND $2,996 is Gamma Neutral for the market maker if I assume that he wrote all these calls and puts.... so he is short some form of a stradde.... BUT HE WON'T tell me how to get to the 2,840 and 2,996 using the data on the spreadsheet...

Nicole Seaman from your company was SUPER NICE and very very helpful and she suggested that I post this on the forum and that you might take a look. I just wanted to let you know that solving this would be a life changer for me....so hopefully you find it in your heart to open the spreadsheet and help me figure out the answer.... I would be happy to subscribe to any of your courses, to donate money to any of your charities, or to do anything in return for your help...BUT I REALLY need to solve this on the spreadsheet and get those 2 numbers of $2,840 Delta Neutral AND $2,996 is Gamma Neutral USING the data in the spreadsheet.

All the best,

Jorge