"Fixing" Options Trades

Discussion in 'Options' started by lightrader, Mar 24, 2012.

  1. This thread reminds me of this famous scene:

    <iframe width="420" height="315" src="http://www.youtube.com/embed/LqeC3BPYTmE" frameborder="0" allowfullscreen></iframe>

    IVTrader, "respectfully", I think you've got your ass handed to you by the above two gents.

    Isn't this the community you speak of?

    http://www.optionpit.com/

    And as a tip on courtesy, please don't ever begin a sentence or a rebuttal with "respectfully"... everyone knows you're not tryna be respectful when you say that.

    P-l-e-a-s-e
     
    #31     Mar 29, 2012
  2. newwurldmn

    newwurldmn

    Atticus summed up what I was trying to say far more articulately.

    Don't confuse your options position with your view. It's still an iron condor, but a delta hedged Iron Condor does not express the same view as an outright Iron Condor. Just like an outright call doesn't express the same view as a delta hedged call. Both are long gamma/vega paying theta.

    I am surprized that someone called IVTrader doesn't know this.

    It's been my experience that a lack of intellectual honesty is a major hurdle to profitability.
     
    #32     Mar 29, 2012
  3. newwurldmn

    newwurldmn

    $10,000/year! What a business model! Babu, start a website like this. And just get 20 suckers. You'll make a good living.
     
    #33     Mar 29, 2012
  4. Yeah, come to think of it, I would guess I know at least 70% of what they probably teach.

    Now I may not follow the same lingo. I might have an intuitive understanding of it in other ways but I'm sure any average intelligent person would know at least 70% of it without paying.

    Now, I'll admit about 30% might be some advanced strategies, etc.

    But I can live with that. Basics make me money.

    EDIT:

    A simple Red Hat straddle that I closed immediately on open made me $500 this morning...

    Geez, I was thinking on dropping a course yesterday and wondering about the waste of those $600 bucks i spent on it.

    No regrets anymore!
     
    #34     Mar 29, 2012
  5. I'd mention that a short gamma condor is long gamma outside the wing-strikes, but I'd be wasting my time preaching to the "repair" pros. Oooops.
     
    #35     Mar 29, 2012
  6. newwurldmn

    newwurldmn

    Save it for your interview in expiring monthy.
     
    #36     Mar 29, 2012
  7. There should be a LIKE or better yet, "FUNNIEST JOKE OF THE DAY!" button.

    newwurldmn, that seriously made me laugh. i couldnt stop for an entire minute...

    HAHAHAHAHAHA
     
    #37     Mar 29, 2012
  8. #38     Mar 29, 2012
  9. newwurldmn

    newwurldmn

    His blog has some interesting things. I did the trial for his newsletter but it was pretty mundane.
     
    #39     Mar 29, 2012
  10. We can only dream.
     
    #40     Mar 29, 2012