Why does this guy continue to avoid very simple questions??? He is on the record this past week as saying that he sold 200 Feb. 1200 Calls on the S&P Futures "naked" yet he REFUSES to answer a very simple question that I have posed to him three times now: What DAY last week did you sell the 200 lot of Feb. 1200 Calls on the S&P Futures? Could it simply be because he is full of BS and never sold anything? I'd hate to call the guy a LIAR because he very well could have sold the high of the week, at $2.00, like he said he did . . . Anyone else want to hear James Stock answer my question before the weekend is over?
Sulong . . . Last Friday, James told VOLUME ( who I have a tremdous amount of respect for ) that he sold 200 Feb. 1200 Calls on the S&P's at a price of 2.00 I am just curious to know what day of the week, last week, that he sold the 200 lot. That's all.
Waggie this is getting very old. Who cares if he did or didn't? Now I don't know this James Stock guy. Apparently he use to go by the name Romeo and from what I have heard from other posters, he has made a lot of good calls in the past and he has been a member of ET for quite a long time. Now maybe this guy is full of shit. I think 95% of the people on ET are, so this wouldn't be a stretch. Leave the guy alone. He called a top. Bust his balls if he's wrong. If he's right, give him credit. Who cares if he sold 200 or 2000 or 20 feb 1200 calls. The only problem I have with his call is that he didn't give any time frame. If he said that top at 1150 would hold for a week, then that's a great call, or maybe he said that top would last for 3 days or 3 months or 3 years. But this obsession over him is not good. If you are going to declare yourself the ET police and go after every poster that is a fraud then you have to go after everyone equally and you will have about 500 people to go after. But don't just single out one guy and continually beat him over the head over and over again.
The Feb. 1200 Calls had a high of 2.00 last week, trading only 160 contracts on Friday, and 116 contracts on Thursday. Please excuse my suspicion. By the way, this guy prides himself in his ability to call tops after only one down day of market activity. He also prides himself in limiting his risk when being "naked" calls on the S&P futures. In fact, during this month's option expiration he bragged about being short 1140 calls and watching them expire worthless. When I asked him how he would have managed is RISK had the S&P futures gapped-open thru the 1140 strike price the morning of expiration, he refrained from answering the question, and continued to do so without any explanation as to how he would have managed his position given the unlimited risk one has being naked and unhedged. I'm sorry Mav, but I think that anyone that starts a thread bears some sort of responsibility to answering reasonable questions that are put forth on the thread by ET members. Otherwise, the thread merely falls prey to becoming one of ridiculous chest-thumping and bragging . . . By the way, I'm not the ONLY ET member that is growing a bit tired of the absurdity of his thread . . . VOLUME Senior Member Registered: Mar 2002 Posts: 474 01-19-04 04:13 PM What the??? James Stock Senior Member 01-15-04 10:27 AM "The S&P is looking very toppy I say the S&P is topping right NOW." Quote from VOLUME: "You posted this when the S+P was in the mid1120's...now it's @ 1136. If you shorted 1125 with size, you are getting crushed. Pick a price for your "top" and stick with it.
Quote from James Stock on 1/23/04: well balda, you're right. 1150 is proving to be massive resistance. Is there anyone who can be a man and tell me I correctly picked the top again?
Quote from James Stock on 1/20/04: "The maximum upside on the S&P is between 1150-1170. Capitulation day coming soon.."
Look, you don't need me to tell you how stupid selling naked calls is. I gave your buddy riskarb a hard time over his naked straddle in EBAY for the same reason you are riding james stock. What I learned from that thread is you can't knock people's positions on here. People are very loyal to their trades and any negative criticism you send their way will only lead to personal attacks back and forth. It serves no purpose. Obviously his trade selling naked calls has unlimited risk. But if he is willing to accept that risk that is his problem. As of now, he correctly called the top. That could change very soon. And I think it will. Probably by the end of this week but since he didn't give any time frame on this call you really can't call him out on that. But he did go on record before the fact. So you have to give him credit for that. But to go on here and continue to bate him seems like an exercise in futility. To be totally honest with you I don't know why he doesn't just short the spoos. His naked calls only have 2 pts of upside where as he could make 30 to 50 pts in the spoos if the market really does come in. Maybe you should ask him that. But he will never tell you what you want to here. I think he enjoys the fact that this is driving you crazy. The sooner you realize this the better.
In regards to understanding risk and selling naked calls: -------------------------------------------------------------------------------- Quote from riskarb: uh huh... small, finite credit in exchange for infinite risk. I suggest you trade them to the limit of your account. arb. -------------------------------------------------------------------------------- Quote from James Stock: Again, "small finite credit in exchange for infinite risk" is according to you. I disagree. And I don't need any help with my trading or your suggestions, but thanks anyway. My trading record blows yours away, and you want to suggest something to me? Geez.