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    VBA code for excel

    This site has calculation tools as well as VBA code. Nice tool set for looking at options by hand. http://www.hoadley.net/options/options.htm
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    Do most option writers hedge thier writes, or do you just take a chance?

    While I cannot speak with any authority about stock option or retail traders, I can say that most futures option market makers will experience something similar to the following: 1) If a MM is long calls or put - as soon as the same strike put or call is trading cab for a couple days, the...
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    Writing options for a living

    While I agree that Theta is not an edge. I do not believe your statement that "the delta of any given option is priced very efficiently as to not favor the buyer or the seller" is correct. Specifically, I believe that the price of low delta options are heavily skewed in favor of the buyer...
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    Orca

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    construct a straddle at the strike price not available?

    ROFL He asked a question that, at least at the CME, has a very simple answer. Flexes are written all the time down here. While it may not be as cool as some of your arcane strategies, it does provide him with the ability to buy or sell a straddle without a pre-existing strike. This, I...
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    construct a straddle at the strike price not available?

    I don't know if this is true for stock options but I do know you can do this in futures markets (at least at the CME) using flex options. With flex options you can set the exercise prices, style (European/American) and expiration dates. You don't need to synthesize anything.
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    In the money Calendar Spread

    This is a theta trade that can work well in flat market. Your exposure isn't getting the V (Oct) called away but rather if the stock (or futures) move far from your strike. Your max profit for the spread will be if V settles at your strike. Your window of profit (the distance from your...
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    Orca

    I am a local at the CME in the process of transitioning to the box. We looked at several packages and agree that Orc is the superior platform. However, unless trading is your profession, I believe that Orc is more complex than most people need and more expensive than most people can absorb...
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