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
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.
$10,000/year! What a business model! Babu, start a website like this. And just get 20 suckers. You'll make a good living.
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!
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.
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
Does Bill Luby, owner of http://vixandmore.blogspot.ca/ hang out here? I believe he runs that magazine.