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Most options texts are garbage. Hull is the Bible, but no one is willing to do the work. Euan Sinclair is the exception. His work is geared towards the practitioner, rather than the academic. Plus he offers an elegant, intuitive derivation of BSM. Option market making by Baird is legit too...

You can’t adjust for a profit. If you don’t know what to do, then just get out. The best traders are good at taking losses. If you’re wrong, admit it, book it, and move on. Also, options are a tool to implement your view on price and/or vol of underlying. There is no perpetual edge in credit...

Show me your boobs

say you can see trend...how do you use that info?

-Fiber ONT run through dedicated UPS (1000 gps) -Modem, router, switch, controller w/ ups in rack. -Cat6 to desktop and access points (PoE) (comp and center screen on ups) -Lte mobile hotspot (wife's spare vz mifi from work) for desktop/laptop -iPhone (att) -smoke signals -carrier pigeons

Reliable wireless is an oxymoron

I thought I'd offer up a little nugget of wisdom. Perhaps it was the whiskey talking. But rest assured, I have many more secrets.

I solve for a “peak” PnL spot value - underlying price where said fly makes it’s max profit for the day (it’s also delta neutral at that spot). By default it looks 1 day out, which I can step fwd from there. It’s a useful heuristic, as I can slice it as it approaches expiration. Once I have that...

Nothing too fancy. I have a few custom scans in LVX that I run daily. The main one scans for names with high daily vol change. Parameters are; -spot > $15 -avg option volume > 2500 -IV30 > 20 -Daily IV Chg > 7% I also have run some earnings stuff. Mainly focusing on firms with irregular fiscal...

Daisy Red Ryder. BOOM...thread closed.

Nah he's fine. No one has ever blown up selling gamma...

ES futures options have 50 multiplier, so half the notional value of SPX. It doesn't reduce risk, but might offer more flexibility for you.

RCH Stock Market excel plugin has a lot of data from numerous providers. Not sure if it will help, but it's free. http://ogres-crypt.com/SMF/

https://www.pugetsystems.com/ You're welcome my thread from 2013 - https://www.elitetrader.com/et/threads/trading-computer.260199/

That's why I fade the opening vol morning after report. Plenty left on the table, with much less risk.

I'm not criticizing it, just pointing out how fast you were right :)

Spot already at strike

Maybe he got a fake margin call from his fake clearing firm

If you can get 5.00 for it, will you take it?

Haha. "It's not a lie if YOU believe it."