Common Abbreviations
Many of the most common terms, abbreviations, and acronyms used on the OO Discord.
ATH
All Time High - market high or a trading account high
ATM
At The Money - referring to option strike vs underlying market price
ATR
Average True Range
BABP
Build a Backtest Portfolio
BnB
Bed and Breakfast - a trade that is put on late in the day and taken off early the next morning
BOD
Blackout Days
BS
Black-Scholes - the popular option pricing model that OO uses
BS
Black Swan - low-probability event, fat-tail risk - read: Taleb
BTC
Buy To Close - buy back a short option to close an existing position
BTD
Buy The Dip
BTFD
Buy The Fudging Dip
BTO
Buy To Open - buy a long option to open a new position
CCS
Call Credit Spread
CDS
Call Debit Spread
CPI
Consumer Price Index - news event inflation reporting
CRIC
Call Ratio Iron Condor
CRRIC
Call Ratio Reverse Iron Condor
CS
Charles Schwab Brokerage
CSV
Comma-Separated Values - data format used for OO data export and import
DC
Double Calendar
DD
Double Diagonal
DD
Drawdown
DFTD
Done For The Day
DM
Direct Message, e.g. DM me so we can have a private conversation
DST
Drink Some Tea
ELI5
Explain it Like I'm 5
EOD
End Of Day - can precede trade type, e.g. EODIC, EODDC
EOM
End Of Month - usually referring to the last option chain expiration date of a given month
ERN
Early Retirement Now - inspired by the earlyretirementnow.com community, no affiliation to OO
FLA
Four Letter Acronym
FOMC
Federal Open Market Committee - interest rate announcements
FOMO
Fear Of Missing Out
FUD
Fear, Uncertainty, Doubt
FWIW
For What It's Worth
GTC
Good 'Til Canceled - type of broker order
HDIC
High Delta Iron Condor - subjective by short strikes, usually above 30 delta
HODL
Hold On for Dear Life
IB
Iron Butterfly
IBKR
Interactive Brokers
IC
Iron Condor
IF
Iron Fly
IMHO
In My Humble Opinion
IMSL
Intra-Minute Stop Loss
IRL
In Real Life
ITM
In The Money - referring to option strike vs underlying market price
IV
Implied Volatility
IVP
Implied Volatility Percentile - % of days in a rolling year with IV below current IV
IVR
Implied Volatility Rank - IV represented on a scale using rolling year min and max IVs
JFSP
Just Fudging Sell Puts
JSP
Just Sell Puts
LDE
Leg Delta Exit
LDIC
Low Delta Iron Condor - subjective, but usually short strikes below 10 delta
LEAPS
Long-Term Equity Anticipation Securities - options with >1 year until expiration
LFG
Let's Fudging Go!
MACD
Moving Average Convergence Divergence
MDD
Max Drawdown
ME
Multiple Entry - may appear in front of other strategy types
MEDC
Multiple Entry Double Calendar
MEIC
Multiple Entry Iron Condor
NDE
Net Delta Exit
NFP
Non-Farm Payrolls - market news event
NT
Navigation Trading - non-affiliated trading education provider
OCO
One Cancels the Other
OO
Option Omega!
OPEX
Option Expiration - refers to the day when monthly options contracts expire, usually the third Friday of each month
ORB
Opening Range Breakout
OTM
Out Of The Money - referring to option strike vs underlying market price
OTO
One Triggers the Other
PCR
Premium Capture Rate
PCS
Put Credit Spread
PDIC
Paint Dry Iron Condor - in reference to how exciting it is to watch paint dry - see LDIC
PDS
Put Debit Spread
PoO
Portfolio of One - running a portfolio with only one backtest, often to visualize intra-trade drawdowns
PPI
Product Price Index - inflation reporting
PRIC
Parity Reverse Iron Condor - equal short strikes and calls in RIC
PRIC
Put Ratio Iron Condor (i.e. more put-side spreads than call-side spreads)
PRRIC
Put Ratio Reverse Iron Condor
RAIC
Ratio Iron Condor
RH
Robinhood Brokerage
RIC
Reverse Iron Condor
RIF
Reverse Iron Fly, a subtype of a Reverse Iron Condor
RoD
Ride Or Die - trade with no exit conditions or stop loss, just let it expire
rOObot
Affectionate name for OO's trade automation platform
RSI
Relative Strength Indicator
RSS
Rolling Short Strangle
RTFM
Read the Fudging Manual - aka please check the documentation before asking for help
SAC
Small Account Challenge - trades for accounts that might be subject to pattern day-trading rules, etc.
SEME
Single Entry Multi Exit - where a trade is opened as a whole but exited in parts via leg groups
SHW
Short Holiday Weeks
SLR
Short-Long Ratio
STC
Sell To Close - sell a long option to close an existing position
STO
Sell To Open - sell a short option to open a new position
sus
Shorthand for "suspicious" or "suspect," e.g. Friend 1: "My PDIC MAR is 1000!", Friend 2: "sus"
TAT
Trade Automation Toolbox - non-affiliated trade automation platform
TBH
To Be Honest
TD
Tradier Brokerage
TLA
Three Letter Acronym
TLDR
Too Long Didn't Read
TOS
ThinkOrSwim Trading Platform - used with Schwab Broker
TS
Trade Steward - non-OO-affiliated trade automation platform
TT
tastytrade brokerage
TTBT
Trust The Backtest
TTFB
Trust The Fudging Backtest
TV
TradingView - non-affiliated charting platform
TWA
Trust Wizzy Also - proceed with caution when Wizzy frowns
VWAP
Volume Weighted Average Price
w.r.t.
Shorthand: With Respect To
WFA
Walk Forward Analysis - assess strategy robustness by simulating performance on a series of sequential, non-overlapping time periods
YMMV
Your Mileage Might Vary - you may do better or worse than others' experience
YOLO
You Only Live Once - usually designates a high-risk, all-in type trade
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