He has a small point. Most of the stocks with weeklies trade between the strike prices through the week, then the one cool guy with the most money gets to decide where it flatlines on Friday.
Well said! Weekly options and a casino in every City. America the [once] Beautiful! Thank goodness I make 6-figures doing what I was trained to do at Northwestern ! This stuff is imbecilic! Obviously high IQ and good education is not a precursor to making money trading! LOL Bravo to all who can make money [talking consistently here] in this swamp without a mid-6-figure account ! Can't believe I once thought I could actually trade for a "living", got an 89 on the Series 7 and took almost two-years of classes at the CME including and 8-week classes with Sheldon Natenberg. I would have been better-off learning how to throw darts. Actually I got lucky and made some on AAPL puts today by working all day and not watching the markets until 2:15 pm CDT. I have to be lucky to make a few bucks because obviously I'm not smart [or irrational enough or disciplined] enough for the insane asylum although I finally have developed a pretty high level of knowledge/understanding of options. Of course if you are dumb enough to ---trade-- AAPL you deserve it if you get hammered any given day. Actually my best underlying is AMZN. Seems to pin every week at or in-between strikes. AMZN actually has "tells" as to what shell it will land under. lol. Of course one-time I was wrong and had the biggest loss all year. So much for pin the tail on the donkey. Meanwhile, I got into the stock market via funds [100%] after being 100% cash in my 401(k), back in October 2011, right at the lows/bottom and just began selling last month. That's absolutely true. Of course my smaller trading gambling account has essentially made money only for the brokers. LOL. One step up and two back. There must be a moral there?!
It was my understanding that it's the bulls and bears who are manipulating the market, and it is the pigs(the ones who don't have a clue what the market will do, but still like to throw their money in) that get slaughtered. Have I been mistaken?
The markets are constantly changing... that is the only certainty. Did you ever notice how the "good old days" never last for anyone exclaiming their virtues ? At every moment in human history, you always have these bums lamenting about 'the good old days'.
LOL All the idiots on CNBC were bitching about HFT today. They even had Mark Cuban on to bitch. Times have changed. Accept it.