SPX Credit Spread Trader

Of course. I didn't mean to insinuate otherwise. I enjoyed the Wrangle thread and was just being a wise ass...

 

With all the the worrisome talk on 3 sigma storms and black swans etc. I decided to punch out early on my near perfectly center flying Iron Condor position (NOV CALL 1430/1420 and NOV PUT 1335/1325) with 35 points above and 50 points below the current SPX (1385) rather than face 3 more days of market pot shots and gambling on SET. Debit to exit was only .05 so it seems the "reasonable" thing to do.

Got out of my modest bull-put credit spread with an average of .49 credit. It's a cute little 3 week gain of $4,165.

But I am still waiting for the worrisome bear-call side's close order to execute to bank the other +$4K. Personally, I am more concerned about a sudden irrational return to optimism by the bulls. Didn't anyone tell these guys that the sky is falling and they are playing Russian Roulette with their family fortunes in exchange for a pittance of real potential economic growth? Geeze, why are these idiots betting the farm for a shot at a measly 20% growth in 2007?



TS

 

"What is the catch? Deposits in most countries are protected by a form of deposit insurance. Deposits in international private banks are not. It is therefore important to choose an international private financial institution that is strong. Millennium Bank is strong. "

Instead of FDIC, they have a mission statement.

 

ANSWER:

http://www.ljmpartners.com/content/PDFs/trader_monthly.pdf

 

Pretty funny that he told his clients that it would take years to make it back (and they mostly stuck with him) but he made it back by the end of the year lol. I wonder if he ratcheted up the leverage thinking another swan was not going to happen. Sucks not to know exactly what he did

 

If you use ToS you don't have to pay a commis either for only a nickle transaction.

Cru

 

These are NOT nickel trasactions. He traded 4 different series for a net debit of one nickel.

Mark

 

The LJM guy is the same one profiled in one of the free industry mags a few months ago. Interesting read, and a good example of how 1 stubborn trade can really hurt.

Here is another interesting one:
http://www.zenith-resources.com/performance_iop.php
This cta only sells naked premium, makes double digit returns, and had his largest drawdown on 9/11. That was a soul-crushing -3%. OH THE HUMANITY!!! Maverick better get this guy on the phone asap for a Mav-style ass reaming!

And you, cdowis! How dare you challenge Mav's assessment of the risk with that bank. Have you ever even used a bank before? LOL

 

It's easy to have 50% drawdowns when it's someone else's money.

 

I know all about Zenith. There is some shady stuff going on over there. I won't go into more details as this is a public board. Jeffm, you really are clueless man. You are just showing your ignorance with every further post. Options are very simple as it boils down to simple mathematics at the end of the day.

I called you out on here to put up a trade to back up your assertions and of course there is no follow through to your pontification. How typical of ET. I'm still waiting on those short gamma numbers. You know what, something tells me I'll be waiting a long time.