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A neurosurgeon needs to be in the hospital day in day out if he/she will be successful. An athlete needs to be playing with the best to keep competitive. I don't know anyone my age who wants to talk about trading skew, one of my colleagues said today and I quote "Iron condors are the holy grail...

I agree, I don't see the reason to have that in an IRA. This could only cause more harm then good.

Hey everyone I need some life advice from experienced traders who have most likely gone through what I am going through. I am currently going through a phase where all I care about is trading, I don't go out anymore, I am putting my great job (financial advisor at a big 5 bank In canada) at...

How do you feel about this?

I agree, I don't know any trader that does not use it in one form or another. Maybe I meant to say that pattern recognition is hard to weed out from randomness. I myself always like to graph a chart see where a stock has been, momentum etc.. however I think pattern trading will diminish in the...

I forgot how sensitive technicians were. Sorry if I hurt anyones feelings posting this thread. I would take it down if i could...... I agree my lines are a bit off, maybe if they were drawn correctly, the breakdown would look more convincing.....

IF you sold the put, you are also in the red today. What are you trying to say?

Did you not see the random chart I just posted?!

I generated random numbers with a simple gaussian distribution with a positive drift and this is what I got!! I do belive price action is semi uselful however I wouldn't ever base a strategy soley on price action

Any places you suggest to get started in the right path?

I am then short way to much vega and also hold a ton of gap risk. NOT something I want to trade although studies show that is very profitable. Another thing regarding your ATR divergence. If I look at SPX ATR is it 30. Yet the 28 day implied vol is 13% = .13 * sqrt(1/365)*2660= daily move of...

maximum pain, what do you think about buying an ATM butterfly but trading it like 2 seperate positions ( the short straddle) and long strangle? Then just delta hedge accordingly

Yes that is correct. Is this legal? Like wouldn't the guy with inside info want to be more discrete when buying 50mm of trip advisor (assuming it was a directional play because of inside info). This honestly seems like a hopeless strategy unless you have the right infastructure. And the right...

Thank you I will start reading it. There must be money in distinguishing between whose hedging and whose not, do you know of anyone who was able to do this successfully in modern times?

Bloomberg tells you the largest holders of contracts in the underlying.. I am home now but tomorrow I will upload the function for you. For example If I can remember Jane Street owns ~ 60% of all TRIP put options. They don't tell you if its long or short tho.

Hi all, a topic that I have looked into recently is piggy backing onto large order flows in the options markets. However a large option order can mean anything. Lets look at an example, TRIP had a HUGE put order go into the market today expiring tomorrow. This could be a market maker hedging...

What have you replaced the strat with OR why did you stop trading them? Any people/books/articles I read on trading butterflies? In regards to back testing where do you get your data from? Thanks again for the great response

Thanks for the insightful post. I took off the trade this morning for 22.18 (don't kill me). You make a lot of sense here, I am looking for a candidate to buy a 1 month butterfly on, and will keep it delta neutral. Butterflies don't accumulate that much delta because the gamma is pretty low so I...

thanks for posting