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While I'm not inclined to try and catch a falling life, and while there's some merit to the "if it ain't broke don't fix it" approach, it seems the risk:reward of continuing to play the vega negative card may finally be suggesting a different tack. Hence, I'm contemplating establishing some...

I should clarify. I don't discount the value of what I learned in business school. In fact, much of it was quite helpful in my "real" post-MBA career. My point was, for someone who plans to remain an independent trader regardless, there is little if anything of value to be learned earning an MBA...

Now is clearly a good time to utilze index puts as a hedging tool given the rock-botom volatility levels. Hence, it's "cheap" insurance on a relative basis. In terms of the number of contracts to buy, you'd need to calculate the appropriate hedge ratio based on the position delta of your...

If you plan to stay on your own, I'd advise you NOT to get an MBA. It will only impede your ability to make money in the market. I strive every day to unlearn what I was taught. You'd be far better served spending the 100 grand on the only education that counts in this business -- actual...

Thanks all for the helpful info. HD

What's the prevailing minimum amount needed to open a prime brokerage account? I've heard anywhere from $500k to $3 mil. Also, any thoughts on best/worst prime brokers (i.e. Bear, GS, ABN, etc.) from anyone with direct experience with any PBs? Thanks. HD

ABF, I will attempt to put this in words that you will understand since you are so obviously daft. You, gov'ner, are a bloody wanker. Hope that helps. HD

Those who can, do; and those who can't, teach. There is typically little correlation between the two. Hence, while McMillan and Natenberg might not be able to trade their way out of a paperbag, I'd choose their tomes over anybody else's if forced to trade from a desert island (as opposed to the...

Candle, No apologies necessary. It's a somewhat obscure strategy and many tend to lump them together with iron butterflies or, more generically, "wingspreads" (i.e. Cottles). But to be exact (and even more obscure), I actually trade "iron albatrosses", not iron condors, as the distance...

Blue, Fair enough. Your points are well taken and I agree with much of what you've said. The only point I would add in response is that I believe it is perfectly valid to have as one's objective to consistently hit singles or doubles as opposed to going for the fences with more attendant...

Bluehorseshoe, While I appreciate your comments, I have to take exception to a couple of your points. First, I think you're rather offbase with your disparagement of those who "fall in love" with a particular options strategy (though I agree one should reserve such affection for one's spouse...

Had to vote "other". It's the Iron Condor for me. An IC on the OEX (XEO, actually) is a position I have on month in and month out, with a variety of long calls/puts on select individual names as a gamma/vega hedge and dispersion play. IC's, at least the way I trade them, are high...

Cramer changes his tune so much, I got whiplash trying to keep up.

Ice, Being discussed in the "IB option feed dwn" thread. HD

Thinkorswim thinks it's just a CBOE problem. But I'm getting stale quotes from other exchanges too.

This growth was primarily stimulus driven, which begs the question: what happens when the refis and tax rebates dissipate? And if jobs weren't created as the economy grew at the fastest rate in two decades, what does that suggest about the labor market going forward as we return to more...

His Plan? To call his brother.

I agree. It seems it could be perfectly suited for iron condors given the VIX's well-defined range. Any new word on when it will debut?

My comments here are probably superfluous since Maverick has explained it all much better than I could. However, I felt compelled to reiterate a critical point that Maverick just made about volatility in the event some may have glossed over it. I think there is a fundamental misunderstanding...

Keith, I don't doubt that OX does require that. My point was, they are wrong in doing so. But I may now have to retract my exemption of OX from the "know-nothing" descriptive I used in a prior post. Regards, HD