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Are you referring to an iron butterfly? For instance ELX at 19.67, sell the april 20 call for 1.10 and sell the april 20 put for 1.40 credit 2.50. Buy the april 22.50 call for .45 and buy the april 17.50 put for .50 debit .95. 2.50 credit minus .95 debit=1.55 credit. I have found that you...

Not just funny, but really funny!

The lawyers, I am sure, have told Todd he would be liable for what he writes, so he cautions that he is not recommending but enlightening. OK, that leaves the reader/subscriber with some very vague and somewhat fuzzy explanations of his positions since Minyanville started. I don't want to be...

Very profound, and thank you.

Iceman wrote: he has disclaimers up the wazooo. That's why you can't be sure what he's doing. When he wrote for TSC he was more forthcoming with what he was trading. But was he really short as much as he said.... or just using the site to accumulate! Naw... I believe him! He was just...

"The Professional Commodity Trader" is an excellent book IMO, that I have read more than once. Sorry to hear he is deceased. No tech mumbo jumbo that you read so often on this message board, just an aggressive trend follower. Interesting that when I pulled out the book I found a letter he...

Even a broke clock is right twice a day.

There doesn't seem to be any connection between that site and the Cottle book?

My computer will load java almost all the time, and not fully load it sporadically, occasionally it will lock up the computer. Only happens with java. Anyone know what the most likely problems is?

Div, Maybe an iron butterfly would work for you. Using MEDI this morning at 31.56 as an example, sell the April 32.50 calls and puts and buy the April 35 calls and April 30 puts for a 1.55 credit. Some hedge there, and you can buy back some short calls/ puts as the stock goes lower/higher...

Good strategy, I prefer to sell the guts.

Stock777 has the answer, go home flat rather than a 100% hedge. If you want some protection and smaller cost than being 100% hedged you would buy the out of the money put/call for your long/short position. If you are long the 4 mini's, you could buy the at the money put and sell the out of...

Sell the April 17.50 calls, sell the April 17.50 puts, buy the April 20 calls, buy the April 15 puts, same quantities. If price decreases buy back some of the short 17.50 calls. If price increases buy back some of the short 17.50 puts. Move out to July at expiration, than October etc. selling...

Are you trading ETF's, stocks, baskets? Long or short? Do you mean something other than calls if you are short, puts if you are long?

Good point. The Japanese in WWII tortured American servicemen for no reason other than torture. No mercy for the cowards who kill civilians. I live 11 miles from Manhattan and saw the smoke everyday, not the same as watching a TV report.

vishnu, If you are familiar with Todd Harrison's option methods(when he wrote for RM he would go into some detail)how do they compare to Jay Shartsis? I have not read any of Jay's writing but do read Todd's and he is trading a number of stocks and options which he scalps as a contrarian...

Are you the same "40year old" from months back? Keep the goats and high top boots.

Fan, If there are any edges no one has told me about them so I can't pass them along. Seeing as a vertical spread is a directional hedged strategy any edge would be what you do when "X" happens, like rolling up or down or out, or scalping vega, gamma etc. The writing of Todd Harrison and...

Salvage might be the wrong term. The fact that you now own the April 30 call for .45 makes it beneficial to do something else with the call at March expiration. I thought someone would suggest doing a reversal or adding a bear put spread rather than just selling the call outright. Thanks all...

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