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Apparently the New York Times agrees with me: http://www.nytimes.com/2008/04/25/opinion/25fri4.html?_r=0

For "used" books? I say bullshit.

I have a friend who is a professor who tells me the latest trend is making students buy electronic books with one time access codes so you can't re-sell them. The university gets a piece of the take as does the professor in many cases. These "e-books" can run $200 a piece. Ten years ago...

That article is full of shit. I've been tracking tuition for two decades. I know exactly what I paid for my school and see today's rates. It's beyond astronomical. And colleges struggling? Bwahahahaha. Dude, professors, administrators and staff have never made more money then they are...

Dude, do you even trade? Because every time you post I get this feeling you have no clue how this business works. And you are a mentor? Really? As in you charge people for your services? I hope I misread that. If you are trading futures, say crude oil, a product that moves 2k to 3k a...

You're doing good Crispy. Keep it up.

I'm not sure why this is so hard for you to understand. Any trader going through the combine whether they make a ton of money or don't is going to more then likely generate similar results. The only indicator I personally would value is the variance of the results. In other words, the less...

Right I'm not endorsing any strategy here to buy or sell premium. I usually only comment on these broad theories that are put out there that selling risk has some built in edge. Edge is a little harder to come by then that. LOL.

Yes, but that is your own demon you have to deal with. This is true of any position really. You could be long shares of a stock that trickle down pennies a day and never sell. As a good card player says, always know your outs. But yes, you are right in that the psychology is indeed different.

I can't remember exactly, maybe 10 to 15 contracts on a strike. His overnight haircut was only about 2k or 3k. And as my memory comes back on this, I think the flash crash we were at around 1200 right? I think he was actually selling the 700 strikes, maybe 750's. So he was almost 50% out of...

Shooter, I think it varies by traders style. Some guys are very astute at position sizing and adding to a good winner instead of giving in to the urge to sell and take a quick profit. Some guys simply have more patience, so they don't add size but they hold it longer. Some guys are really...

I was responding to the example at hand. The OP was not dynamically hedging. The discussion was centered primarily around soft deltas. Obviously as I pointed out humorously (you obviously didn't catch this post on a similar thread) one can lose all sorts of money once they begin trying to...

Crispy gets it, you don't. I would back any scratch trader under the combine conditions and actually have. As Crispy said, becoming a scratch trader is very hard. To repeat what Crispy said, most guys don't go from mega loser to mega winner. Once you become a scratch trader, that process can...

Yes, I'm sure. Why does it not make sense to back a guy who can show you at the very least he is a scratch trader who will NOT violate his draw down limits. You do realize that probably is less then 5% of all traders can even accomplish this feat right?

Nothing is wrong with that. Just like there is nothing wrong with coloring your hair pink. You are long synthetic stock. You could buy the actual stock just as well. Or you can split the strikes as you suggested and change your p&l profile. You'll need to be a better trader trading the...

OK, so here is my story. There is a thread here buried deep in the archives, but it's here, about a poster who had this unique strategy of selling DOTM puts in SPX options. Now, I know what you guys are thinking. Hey Maver, that ain't original, I've been doin that fur years. Not like this...

I don't understand this logic. If one is long premium, you can ONLY lose your premium, yes that is 100%. When you are short premium, you can lose "multiples" of your premium and your account value. They are NOT the same thing. Yes I understand trading is risky. One who is long anything can...

You could have simply closed your position no? I don't understand why so many retail option traders have such an aversion to taking a loss. LOL. It doesn't matter if you are long or short premium, the first knee jerk reaction to most people here is roll, hedge, spread, layer, buy more, sell...

No, that is not what I'm saying. What I'm saying is, when you buy soft money calls, you are making an explicit bet on vol which tends to contradict your direction. I don't understand how being gamma neutral is going to solve that. If you are net long vol and gamma neutral you are still making...

Yes. There is no minimum except that every product traded has to be greater then zero. So if you make $1 trading only one product, you did it!!!!! Yea for ET! Of course the irony is that it NEVER was the metrics that was stopping anyone from passing the combine. It was their own...