He probably means the National Guard, because they are military. We deploy National Guard troops all over the country during many crises. Anyone ever heard of a hurricane?
I have no idea what the intramkt req is on SPAN, but $200 is stupid low. The guy has no business being in October and trading AH on a Friday. Now you're suggesting going even further out. How about he covers Oct?
I think the problem is that most brokers will not acknowledge a non-exchange-traded spread. He'd have to have full monty for 12 contracts, even though the exchange itself looks at it with a discounted eye.
I know. And I had been doing so well with my statistically analyzed Micro emini strategy. I hope I can sell this CLV20 for slight loss and move on.
"Love taking losses, hate taking winners" -> cut losses quickly, take profits. One too many times I've gone into a trade where the direction was favorable but against the strategy entry and I've closed out for a small loss rather than risk the mental capital. NOT WORTH IT.
So if it gaps 3 bucks that’s 21k loss. I agree in that even if he sells anything or sells calls that 21k loss is locked in unless he wants to ride this until Thu when Texas commission might choose to cut and it bounces back. This is certainly not a strategy for trade but if he wants to hold until it goes to 20 and he thinks it will come back up... peace... but in general I agree a loss is a loss no strategy will help with that