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His liability in Ohio is likely to be zero, he never needs to pay a deposit, therefore he is paying tax in one state. A SMLLC is a disregarded entity, there is no tax planning required for such a simple structure, you would be better off with turbotax than paying top dollar for a qualified...

I do not live anywhere near Ohio. And I have some clients who have to file returns in 40+ states. That does not mean they pay state tax 40 times. Whatever nonresident tax they pay gets taken as a credit on their resident return. Different taxes are not at all equal. You cannot deduct Social...

I'm a CPA with a Master's in Taxation. You couldn't be more wrong. And "tax is tax" is a blatantly erroneous statement. Property tax is very different from income tax, just like estate tax has nothing to do with payroll tax.

School tax is real estate tax, not income tax. There is no double taxation of state income. The credit is 100%.

This is incorrect. He gets a credit on his Ohio return for taxes paid to other states.

What is the impact of this, other than recognizing gain/loss a day earlier?

1. A single member LLC can elect to be taxed as an S-corp in which case you could pay yourself a reasonable salary and take the excess free of SE. 2. You would not have to pay both. 3. Your gains and losses generally are netted together. You would not owe SE tax if your net is zero.

Long butterfly sounds better than a time spread due to vol crush

Uneducated? Atticus know more about options in his left pinky than you will EVER know. For this phony's encore he'll probably ask sle to post his account size.

Good luck brah, if I could do it all over again I'd try to be a market maker.

Thanks sle. I want to generate theoretical values based on vol input. Ideally I'd like to do this for multiple options at once, so I can compare for example butterflies at different strikes and easily see which one gives me the best theoretical edge. Are you saying that standard BSM is...

Sorry to bring this up again but I could really use some help fellas. Specifically, if you use BSM, how do you adjust for dividends and early exercise? Does anyone use binomial? Are macros and VBA necessary for a killer model? I want to build something that could price a whole chain, or at...

...positive gamma, positive vega...wants increasing IV...but when the underlying shoots to the upside around or beyond the short puts, the vega becomes negative and the backspread benefits from a decline in IV. Does it really benefit though? Because even if IV rises, realized vol will win out...

IV could go sky high but what really matters is what happens to the stock (at expiration). If your CC is OTM, u keep the premium. If it's ITM, your shares will get called away at the strike plus the premium. The only way your net liquidity would go to zero is if the stock went to zero. With just...

1. Do you price one option at a time? Or can you price something like a chain simultaneously? 2. Fischer Black Pseudo-American or Binomial (for American options)? 3. Any other advice for a first-time modeler?

Thanks Doobs. I know IV30 could be up 10% while your long options' vol stays frozen. It's just a hypothetical option. I like the Sigmas better I think. Is forward vol discussed in Sinclair/Baird? Those are what I am reading next. The purpose of forward vol is if there isn't an option expiring...

What is the saying again? I recall reading something about "drowning in a 4 ft lake".

Listen to Put_Master. He/she knows their stuff

+1 on the Livevol trial available on their blog. They gave me a month free to play with it.

Trust me I'm on it...filthy told me to read option trading first though