V-Trader clear locals?! R U phucking kidding me? I think we'll need to alter Webster's definition of what a MM is -- it sure isn't some dude trading upstairs at a prop-shop or remote. arb.
Damn, this thread is like watching Smackdown. I can barely wait for the Ebay report to see how this comes out.
riskarb, I am not saying that is not the vol at that price, I am saying you did not get that price. I asked the market maker on the floor in the pit if that price went out today and he said no. So what, is he lying to me? Why would he lie to me? I think you are lying about the price, thats all. And don't tell me to relax dude, you posted 50 times the last 2 days about how much money you made shorting the spoos and the puts. That was you, not me, looking for people to pat you on the back and reaffirm your worth in this world. I don't seek that from an online message board, you do. But that's fine, whatever floats your boat. What I try to do, is help guys on here understand options better, that's it. I don't brag about how big my account is or how much money I make or this and that. There is no point to that. I think you need to take a few days away from ET. The last few days you must have like 50 to 100 posts bragging about yourself. Isn't there a limit as to how much one can bring attention to one self? I think there is and you have reached that limit. Btw, didn't you say you were an MD? That's interesting. Because if you are actually making money, you would be the first MD I have ever met in my life to make money trading. Also a little birdie told me you only managed to stay on the floor trading bond options for a year, what happened? Did you get kicked around too much? Oh wait, you made too much money, that's it. Yeah, that's what Bond option traders do when they only trade for a year, they leave. LOL. Have a good evening man and get yourself a beer, you need it.
I checked out that straddle when it was posted... just for academic knowledge b/c I am trying to get a feel for this. The volatility at the time I looked was 37.8% on a bid of 6.40. That was per optionsxpress. I hope you make a ton of money on the thing, however, as an academic assigment it will be a good heads up to follow. Hopefully you don't mind someone looking over your shoulder as the trade progresses. Btw, if volatility collapses..., what do you guys call it - a volatiilty crush?... and you exit the trade early, as I would suspect you would do anyway... please be sure to post it. Thanks guys for the discussion. Edit following reading the previous post: Mav, now you have met two MD's that make money trading.... myself included in that two lot.
To elaborate for the intellectually-challenged right-wing among you... When I traded the EBAY short straddle, the posted bid was $6.40, in fact, it had hit $6.50 for quite awhile when EBAY spiked above $67/share. It may have been higher that $6.50b, I dunno, I stopped watching the market in the combo once I had worked the order. Any of you should feel free to check the T&S on the $65 combo individuals for an idea of where it traded. I'll simply agree at this time to limit any further posts to hedges or offsets on the aforementioned position. Sorry if I've rubbed anyone the wrong way. Thank you and good day. arb.
To add: The bid did trade to $6.30 for a time... I missed an opportunity to trade some straddles at the previous $6.40b and did those synthetically, since the puts were holding up, those were done at [/B]$6.38[/B][/QUOTE] average I believe, +/- a couple cents. Best, arb. P.S. I was hoping this thread wouldn't degenerate -- that was not my intention. I was the first to get flamed in this thread, truth be told.
average I believe, +/- a couple cents. Best, arb. P.S. I was hoping this thread wouldn't degenerate -- that was not my intention. I was the first to get flamed in this thread, truth be told. [/B][/QUOTE] Please stop. I didn't flame you. I questioned your position and told you that being short a naked straddle in EBAY ahead of earnings wasn't the brightest thing to do, especially with vol being so low. And then you went apeshit.
Please stop. I didn't flame you. I questioned your position and told you that being short a naked straddle in EBAY ahead of earnings wasn't the brightest thing to do, especially with vol being so low. And then you went apeshit. [/B][/QUOTE] Stop? Maverick, you're HILARIOUS. You've devoted >TWICE the # of words than I to this thread -- why don't we agree to stop here and post a day or two after the EBAY release -- or until I post a hedge or offset. arb.
Stop? Maverick, you're HILARIOUS. You've devoted >TWICE the # of words than I to this thread -- why don't we agree to stop here and post a day or two after the EBAY release -- or until I post a hedge or offset. arb. [/B][/QUOTE] Fine with me.
Mav, FWIW, If it wasn't for my persistent nagging for Arb to post that screen-shot of his, I am 99% sure he never would have put it up there, and it wasn't to brag or grope himself, but to shut that moron James Stock up. He isn't the type of guy that gets off on flashing his P&L around ET, but rather, very much like myself, the type that gets off on knocking arrogant posters down a peg or two. You seem like a pretty sharp guy Mav, and I know your pretty young also, like myself, so perhaps instead of getting in a pissing match with a guy who has been doing this since we were playing wit GI-Joes, it would behoove you to soak up what you think is soakable, and dismiss what you feel is nonsense. At anyrate, I highly doubt any good can come from this back and forth nonsense both of you have engaged in. So why don't we just let E-Bay report and see what is to come of this play of his... PEACE and good-specul8tion...