Search results

Just passed mine in Jan. I ordered the Series 3 teaching material (including online sample tests) from: http://www.theifm.org I have no complaints. I thought it did a reasonably good job, although I don't really have a comparison point. Good luck!

Anyone see the bull$hit movement in NYBOT CC price this morning? At 13:54 EST (25 minutes after pit close, 5 minutes before electronic close), CC price plunges 2% for a few seconds, and then reverses. It hit a few hundred stop orders on the way down (including mine).

I'm looking at end of day numbers for ICE. It looks like although the future is active, the options are completely ignored. No volume, no OI. Does anyone know how to actually *trade* the options? I use R|Trader, and it lets me select WTI/Brent options, but I'm not seeing any price quotes.

Not very, only slightly. Less than 0.5%. I knew it was a possible it might be exercised, but when I saw Friday night statements reflecting that it hadn't been... I thought I was in the clear.

I hate the fact that ICE doesn't give you delayed quotes for free right on their website, like CME does. Any ideas where I can get (delayed) ICE Europe options quotes?

Hi there, I noticed ICE Futures Europe has a lot of volume in WTI as well. Contract specifications look identical to the NYMEX CL contract? Are prices here basically fully arbitraged and in lockstep with NYMEX CL? Any reason at all to trade ICE WTI versus NYMEX?

Hi guys, What's the latest that you guys have been informed of short option assignments, from your FCM? For example, I had some heating oil positions expire Friday OTM. The equity run/statements from that night reflected this. I was then informed today (Monday morning) right around 9...

LOL, okay, I didn't realize you were so busy. Feel free to break down your calendar spread by calculating delta of each leg, and take corresponding position in the underlying. Newsflash: it adds up. The numbers work out in exactly the same way. The purpose of the *VARIANCE SWAP* is to...

No reason to do anything as complicated as a calendar spread. Just do a single option; if it holds for one option, it will hold true for any combination of options. We'll just do something simple. SPY (closed 116.58). I'll use SamoaSky's OptionOracle for simple pricing. Let's pretend...

And what would this prove, exactly? What if I was profitable a week, or what if I was negative after a week? The former indicates I was right, and the latter indicates you were? That's not the case, of course. It will be profitable if realized volatility was less than IV, and a loser if...

Right. A var swap wouldn't help you, if your goal was to buy/hold a straddle or any other type of static position. A trending but low volatility underlying would still blow you out. I don't think you really need to automate though. You really just need to delta hedge once a day, and then...

If you're only looking at your positions on two days: 1) the date you open them, 2) the date they expire... The Greeks aren't useful to you. They really don't matter. The Greeks are only useful if you're trying to understand (and of course compensate/hedge) how your position value...

All of the above? I just launched my CPO earlier this year. It consists of a black box trading application I developed/programmed, on the basis of my own model/view of volatility.

That would be an extremely long conversation, and probably not a fruitful one. But let's simplify it this way: find someone from mainland China who remembers 1989 and also understands 2010, and ask them whether China has changed.

Hong Kong and Singapore are "free"? Really? How have both territories attracted world-class staff for the last 30 years, without holding true multi-party elections for government? Money. Talent will follow the money, even if it means they can't vote for their governor (or even spit in the...

I would agree vis-a-vis rule of law and corruption. But frankly, I believe China will be highly professional in managing its financial industry, and both of these will develop. What are relative levels of taxation and regulation in London and New York, versus say the Bermudas? Which of...

I think Hong Kong's relevance will drop quickly. It's primary advantage right now is that the Chinese capital markets aren't fully open, but that advantage will fade with time. Stock index futures trading starts next month, in Shanghai.

I would say this: volatility is easy to define, but there are numerous different definitions that can lead to confusion. In the context of what you're talking about, you *have* to define volatility on the basis of how often you delta hedge. If you put on a straddle and *do not delta hedge*...

One of us is in the the wrong thread. I didn't notice there being a lot of "stock trading" tips being tossed around. A thread discussing the "next financial center" has nothing to do with trading stocks, and certainly requires an imagination that extends beyond the next 5 years. And no, I...

Not true. The major Chinese commodity exchanges have been around for almost 20 years. Volumes in major international commodities (like soybean) is huge, and matches the CME. Index futures are new, and derivatives are new... that's certainly true. But let's make sure we understand one...