sle...I didn't get the whole convo...they are pretty good..they look at the MM expected move a usually have some directional bias..but even if the trade doesn't go their way they then will manage it. They of course have more money than God so they can usually get out with pretty small loss. It basically beats CNBC or Bloomberg for a couple of hrs in the am. What I like is they admit that after 30+ yrs in the bus THEY are still learning and they just love trading.
It's such a great thread, tho. Considering the veracity of the OP and now this clown. We're doing them a favor and where's the gratitude?
I used to do this with a high degree of success. But I could trade some serious size and would effectively stuff the Street with a substantial amount gamma. They would then pin the stock for me. Name selection was pretty small and it helped that the Sellside was desparate for business and flies have juicy commissions for the salesmen.
thats the "edge" of the bottom feeder retail trader...our size is so small nobody notices your right the commissions are the big downside...it definitely has to weigh in the total calculation of p/l
The comms on my stuff are roughly 2% of NBBO, so it's moot IMO. I don't trade a lot of street vol under $50/share due to comms.