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Good idea. Do you typically go with front month options for the backspreads or go 3-4 months out? And what if no favorable skew exists, making it necessary to use ratios that aren't that attractive in order to generate a credit?

Okay, thanks for sharing the report. I now understand the basis for your play. But a broader issue re biotech trading comes to mind. Though I have a background in equity research, as a non-scientist, I personally find it a pointless exercise to attempt to evaluate the prospects of new drugs...

I think the instinct to crap your pants would kick in.

Trajan, if I may ask, what in your research led you to take a neutral to slightly bearish short-term position on the stock (i.e. 12.5 strike flys with the stock at 14 and change)?

Congratulations. You've just re-written the ancient code of warfare that's existed between civilized states for millenia. Fancy that. We have a veritable Clausewitz in our midst.

HAHAHAHAHAHA ART, you are priceless.

Blue, I think I'm done with them too. Sure the extreme implieds are enticing. But as Mav pointed out in another thread, they often underestimate the actual volatility. So it does really just come down to gambling, and I'd rather go to Vegas for that given the free drinks. By the way, anyone...

LOL LOL LOL Excellent. That pretty much sums it all up. I'd just add one thing to the democrat response in the case of ART. Before answering, I suspect he'd also first reach for his laptop to see if The Nation had anything to say about the matter, and would then draft 14 posts about the...

Dude, STFU and go away. We're friends in here joking around. Idiot.

Yeah, FU Angus! :)

Damn, that sucks. Based on a similar experience, I stopped legging my flys a while back. I'd rather pay a little extra for the certainty. But this play isn't looking good for any of us right now.

I think he was calling you a pussy. :eek:

Added some 10 strike put flys for .30 and completed my 15/20/25/30 condor for pennies. So I'm okay if this thing stabilizes here or somehow pops over 16 (unlikely now, I gather). Otherwise, c'est la vie. Oh, and FU Arb!

So if little Adolph got the puppy he wanted for Christmas, there wouldn't have been a Holocaust? You are too silly.

Hapa, while I don't accept the moral relativism that you suggest, I will accept your assessment of ART. In fact, a small part of me kinda likes the nutty bastard. But try as I might, I just can't for the life of me understand the mentality, which is unfortunately all too common in this country...

Hapa, you have it exactly right once again. Unfortunately, ART has no interest in fact or history. Rather, he prefers to regurgitate whatever revisionist nonsense has been spoon fed to him by the whacky fringe pseudo-intellectuals he so adores. But, as I said to the wickless Candle, it may...

You're getting cuter by the post.

Just ask. You never know. If that fails, I know he's partial to cash.

You are quite the hellcat, aren't you? I'm beginning to think you might actually give the lovely Virtuoso a run for her money.

Swear on your own titties, sweatheart. By the way, I know a vaguely deranged young man who's quite eager to meet you. Please be gentle with him.