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http://dictionary.reference.com/browse/sanctimony

I have the proof that the Habs won the series this morning. I can produce it. You have to understand that YOU WILL NEVER win AGAINST FACTS. Hey xflat, are you going to come to Montreal for the cup final? We should do lunch. My treat.

You're right and you have proof, but you refuse to provide proof. And everyone else is wrong because they refuse to provide proof. Also, unless I'm misreading, you're asking for someone else to provide proof that they placed the trade you're claiming for yourself. I'm sure that person is on...

How else do you expect his trades to be risk-free?

Especially INVISIBLE FACTS. Great, now all we need is a lolcat on a computer trading platform and this thread will be complete.

Let's look at this logically. So, yeah. It's pretty clear. Both positions have the same risk, to the extent that buying a call has the same risk as buying 100 shares of stock. Which, for the sacrasm-impaired, is not at all.

Heh. If I had a nickel for every time my brain auto-corrected something I wrote while I was trying to proofread it...

Nah, there's been enough flaming for one day. :)

The gamma and delta of the options both change as the stock moves. You (presumably) trade spot in reaction to how gamma and delta change. The truth of those statements is obvious, and nobody has disputed them. But that's not what you said. You said you could affect the gamma of a position by...

Pretty sure I'm not. Here, I'll spell it out for you again, this time in crayon. Okay, here's what we'll do. You give me an example of a straddle (natural or synthetic with spot and 2x calls, your choice). Then tell me how the gamma changes when you trade spot against it, and how you would...

Am I missing something here?

Of course it doesn't. You said it did, which is why I asked. ETA: And while I was typing this, you edited your last post to reiterate that trading spot affects the gamma of the position. Even though you also said it doesn't. Make up your mind, atti.

How does trading spot impact gamma?

I'll go ahead and dispute that. You seem to be saying "options are vol and I can trade vol by trading something other than options". Can't say I see the logic in that. It's like saying "bananas are yellow and I can get yellow things by buying cucumbers". Spot has no vol. Spot is pure...

Since you're nitpicking... stocks can't actually go to infinity. Shorting a stock or a call gives you unlimited risk, but that risk will always be finite. The mathy term for it is "finite but unbounded". Unless you're writing naked puts on a $5 stock or something, you may as well think of...

Closing the position is kind of stretching the term "adjustment", isn't it? You could probably do better boxing it with puts, since the puts will be OTM and should have narrower bid/ask spreads due to their lower premiums. Also, check if your broker charges commissions for all the...

The entire position is equivalent to a bull vertical spread. It goes up when the stock goes up, but not very much.

If they have any doubts, they won't hesitate to ask you for more information.

Don't listen to these naysayers. You are indeed the first person in the history of option trading to realize that you can capture a dividend by writing DITM covered calls for about 20 cents below intrinsic and getting assigned early before ex-dividend day. Best of luck to you.

You're welcome. The trick to being good at math is knowing how to avoid doing math. :)