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Thanks. But I do not want to brag because I know most traders got killed in the 2nd half of 2008. Honestly, I got lucky. Heading into July of 2008, I was quite profitable selling strangles on ES, CL, and Corn. But starting in mid July, I started to take losses when the premium on the puts...

Like you said, it depends.......But in general, twice the premium would raise red flags for me. It really depends on what the underlying is. For example, Corn will NEVER go to zero because once a certain price level is reached, China and other countries will start to buy at large quantities thus...

Wow. Lots of replies for a Saturday night. I went out for dinner and watched the NY Rangers win game 7 and came back to a ton of posts. I did okay in 2008, would have to look at my tax returns for the exact numbers but I did take most of December off in 2008 and vacationed in Hawaii. It...

I have been a so called "net seller" of option premium for many years. I have been profitable every year since 2003. The key is managing the losing trades, the winners will take care of themselves. Decide on how much you are willing to risk on your trade and no matter what do not deviate from...

Yes, I have that. And I think it's $30 a month in commissions and the data package is free. I am just curious if the CL options bid-ask is the actual bid-ask that everyone sees or is IB just showing what it wants to show.

TraDaToR, Quick question, do you trade CL(crude) options? And if you do, do you subscribe to a certain live data package?

Oh okay. I was looking for someone that is NOT using IB. I would like to compare bid-ask. Want to know if different firms are displaying a different bid-ask for any given stock, futures, options, etc ect etc prices.

Are you using IB? If not I would like to compare a live bid-ask.

Glad there is a discussion about IB's bid-ask. I have been using IB since 2003 and I am wondering if the bid-ask that I see from IB say for a May CL (crude) option would be the same bid-ask that I see on another company's trading platform. Hopefully it is.....but I am curious.

I rather be a loner than to follow the herd. Social skills at work is really about bullshitting. Talking crap about last night's game, politics, family drama. Really, who cares! I trade for a living. I make very good money. And I have a very healthy social life when I am not trading...

Weird. you keep insisting that I have a social problem just because I disagree with you. I am sure I can make many more friends than you can. Also, I do not believe in utopia in this world. I actually feel sorry for you!

I am very happy with where I am in my life. I am in a very happy relationship. My relationship with my family is a very good one even though some do not agree with my choice of career. And that is fine. I am not upset that someone does not agree with how I live. Everyone is entitled to their...

retaildaytrader, you sound like a bitter old man who has lost a ton of money in the markets. Or maybe at some point you were very successful but then you lost it all back. Only bitter people who have lost money in the markets will call it a "casino where everyone eventually will lose." I have...

Is anyone out there trading SI (silver) options? Just curious because there doesn't seem to be a lot of action on them and the bid-ask spread is rather large. Any info would be appreciated.

A loner and a hermit? If you are a successful trader then you will have both the time and the money to travel, to go out and meet way more people and experience way more things than the average worker bee.

When I first started trading, just about every family member snickered and waited for me to blow up. Now that I have a beautiful apartment and am able to travel any time I want, I don't think they feel that way anymore. Actually, I really don't care how they feel. I am having a blast living the...

Rules on unemployment varies from state to state. When I lived in New York City, I was laid off but I was also trading at the same time. All my trading income was reported as capital gains. I did not have any problems collecting my full six months of unemployment. Capital gains is capital...

I have tried to explain the concept of selling options for a nice premium to some very smart people. All have college degrees, some even have MBAs but yet they don't understand it. More like they don't WANT to understand it. Many people are very ignorant. But those that are truly interested...

I have been trading since 1996. I have come to the conclusion that I will not try to explain to others what I do. It's a waste of time! Do you think the average blue collar person will understand that I am a net seller of mini ES option premium? How do I explain what a ratio credit spread is to...

I am relatively new to crude oil options. I am considering shorting a September 80 call for a premium of 2.40 ($2,400). This option expires August 17th but as oil moves higher and higher, I am curious to know what will happen to my option should it expire with September CL trading above $80...