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A few years ago our firms position was short gamma (we got long about 75-85 big S&P futures down 30 pts. We were probably pushing our margin at the time, but when the clearing firm rep called in the morning to ask what we were going to do, I was the only one in the office at that time (partners...

What you see if not necessarily what you get, it's generally tighter. If you see the March ATM call 28-30, if you had it quoted in the pit it's probably no wider than 28.50-29.50. Straddles are even probably 1.5 pts wide. As you get farther out the spreads may widen a bit, but they're not as...

Not uncommon for the quotes to show individual options in those products 2 bucks wide, but spread market should've been much tighter. I used to trade in the SPX, (left in Jun 2002), I would've got my head ripped off by the broker if I gave him a 3-5 pt wide market unless the SP was going crazy...

A friend on mine was in Door County last year, and took a picture of a classic license plate. It was on a brand new Mercedes, I don't know which model exactly, but one of the larger ones. I realize in advance that this only fuels NOMOREOPTIONS belief that the CBOE is all a bunch of crooks...

What kind of spreads were you trading that you got 3 - 5 point wide spreads ????? Not doubting you, but that seems very odd. Had a good friend that used to work at Refco. They had sales trader that was such a scumbag. He would have a customer that wanted a market on an option or spread...

I have no experience directly with this firm, but here's a funny story about them. A few years back when I went through the membership process to get my seat on the "evil" CBOE, we had a number of guest speakers throughtout the weak. One was from Morgan Stanley, and she was telling us "Give us...

Not really an IT guy, and I'm familiar with brokerageconsultants, any others out there ???????????? Vega:D

Hey guys, Just curious if any of you have any experience -- good or bad with headhunters in the Chicago area. If you know of any that specialize in the trading area (even outside of Chicago but with Chicago jobs) I'd love to hear about it. Vega:D

I don't even know what that is !!!!!!!!!!:p Vega:D

It's definitely true !!!!!!!! 100% real story. I used to work for another local in the IBM pit that saw it all firsthand. Funny thing is that this guy was somewhat new to that pit, he was basically kicked out of a few other pits (not by the exchange, but by the other locals), seemed he had a...

cboe.com

Perhaps NOMORE is not the option neophyte that he sounds like. Here's a wacky conspiracy theory: NOMORE is actually Sheldon Natenbury, Larry McMillan, or Bernie Schaffer, and is trying to discourage people from using options because the market is getting to be too efficient and thereby making...

A few years ago, when Blair Hull put Hull Trading up for sale, there was a deal on the table that would have made not only him but many other employees/jr partners rich. Instead, he took the Goldman Sachs deal that gave basically all the cash to him, and left the other people that helped build...

Has the BOX made you rich yet ??? Vega:D P.S. The guys from the CBOE will be waiting for your return (and money) after you start hating the BOX.

Can't help myself, it's tooooooooooo funny. Vega:D

That is if you even know what one is. I'm guessing not. Vega:D

Who exactly is the one that "refuses or cannot adapt to changes ? " You do the same thing over and over and over and over again. All you ever do is bitch about losing money trading options, do you really think that when the BOX opens that you'll be profitable ? Do you mind telling me which...

Of all the posts I have seen here, this has to be the one that I agree with the most !!!!!!!!!!:p Vega:D

Thanks Murray............ Vega:D

The best part of NOMORE is that he starts one of these threads and says something HILARIOUS, then doesn't add anything else -- sure makes Monday better when you start the day with a laugh. Vega:D