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I'm not at all sure that, over time, credit spreads have positive expectancy. However, if you have some reliable (better than chance) way of predicting the direction of the underlying, then you can make them have positive expectancy.

These verticals are hard to adjust because there is no profit in them until near expiration, when it becomes expensive to adjust. For directional trades, it's best to make your decisions based on what you think about the UL.

There are studies on pets for people with PTSD. Pets are great--cats, too. Yes, it's painful when they go but the benefits outweigh that.

"Very different in the US imho where someone at the bottom is treated like shit and people believe he/she deserves to be there." Yes, there are people here holding these beliefs. However, I've run across just as many who believe the polar opposite: that people at the bottom are simply victims...

I would rather hire a refugee who wants the job and appreciates having it, versus some of the stupid, unambitious 20-year-olds I meet. I have frequently dealt with young adults who have the interpersonal skills and intelligence of a hermit crab.

Risk mgmt can involve stops, hedges, or purchasing wings. But the best risk management is to set some rules in advance, and those should include how much you will risk. Best method is not to get too big in the first place. I look at my portfolio and consider the most wicked scenarios: 1987...

Laws of supply and demand don't change. High wages for highly educated tech workers reflect their scarcity. Low wages for fast food preparers reflect their abundance. Maybe our answer is a bit more birth control, and some effective mentoring for people at the bottom. As for escaping poverty...

Well, this "all in" and "all out" thing is partly a personality characteristic, and also depends on what you think about the UL. I am generally an "all in" or "all out" person, but I don't think it's the only way to trade. It just depends on your system and your assessment of what you are...

ironchef, I guess my approach is to try not to manage it too much, not because I'm lazy, but because I don't think it helps with what I am trading. With options, one often has to give something up to get into a more secure position, and repeatedly giving things up might not be worth it. I...

If I am trading a trend, I do not try to anticipate its end. With a trend or momentum approach, I know I won't get in at the bottom and I won't get out at the top. I have to be content with a piece of the middle, hopefully a decent-sized piece. Also, if trading trends, I need those big...

As you probably know deep down, you've got to figure this out in the cold light of day when you do not have a trade on. This is a decision that should be made before placing the trade. Make some rules that work with the rest of your trading system, then follow them. No coulda-would-shoulda.

Yes, ironchef, and also the OP's holding period. Hard to tell what it is, DAYMSTR. Are you day trading these things?

I disagree. There are people who will help you. There is no reason not to help people. The vast majority of them won't do what you suggest anyway, so it's not as if they are going to get in front of you. Many people have helped me in my life, with many things, and often not for monetary gain.

The point of #2 is to convince oneself. #3 is probably a variation on that theme by people who believe they are elevated when bashing others. Appreciate the kind words, but don't call me sir because I'm a woman!

You are right that some of us got off the track a bit. I guess the question the OP must ask himself is whether the renovations really are an investment. As much as some people want to believe otherwise, location and square feet largely determine the price of real estate, and unless the place...

It's a question of whether people consider their total net worth and how to grow it, as opposed to looking at their monthly cash flow. The forest versus the trees. Leverage is a nice thing, when you can get it cheaply. Over the long term, most homes bring a pretty modest return, so paying...

Sounds like you are okay, then. No easy answer to your question--may be a matter of personal preference--and it depends how long you are holding them. Over short period, with remote expiration, do not need to worry about theta that much. Otherwise, deeper ITM option may be preferable.

How can you view this without taking the bid-ask spread into account? The deeper you go, the worse the execution.

Low vol is kind of like a flattening yield curve: it precedes the shit hitting the fan, but isn't that useful because no one knows the time frame. It could be hours, days, weeks, months, or years before the next major downturn in SPX.

Indexes may be preferable for slippage.