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From the CBOE site: Options Quick Facts - Expiration, Exercise and Assignment Keywords being "may or may not be" :)

IMO ...... Options are less risky than Futures/Forex, but more risky than stocks. :)

Perhaps you are attempting to open the short position first. Try the long position first, when that has been filled open the short position. :)

No margin on options - so you are limited to $4,000. Enter the long position first. :)

WTF ..... The PCLN June05 1220.00 calls hit a high of $2.43. IMO ..... the high should be in the $0.60 range, PCLN peaked at only +$4.00 over yesterdays close. PLCN 1-day chart to 11:30AM and PCLN 1220 June05 Call quotes for today. :)

Easier planned before the trade is opened than actually carried out. The after-hour market is most likely when a trade suddenly goes south - and much further than your planned exit. Also the urge to hang on to a losing trade hoping for a rebound is very strong with options, one day your stop...

Keep an eye on the 1230.00 PCLN calls that expire June05. My educated guess tells me that tomorrow (Thursday) the high of the day will be 100/150%+ above the going bid/ask. They closed at $0.45 today but will hit $2.00+ if PCLN trades flat or up a modest $5.00 or so. If I'm wrong on the 1230...

I don't think so. The USD will be the primary influence on the final price. They might pay with the Yuan - but they will be thinking in USD. "The contract is priced in Yuan, although participants will also be allowed to settle their trades in US dollars, at prevailing exchange rates" :)

hajimow ...... Your observation is based purely on hindsight, it's a myth that "Everyone Is A Genius In A Bull Market". I would say that most people, and especially on ET are short term traders - not the buy-and-hold type. An experienced trader can easily lag the overall market, or even lose...

What use is Put/Call Ratio? Call Credit Spreads are not bullish. Covered Calls are not bullish. Short Calls are not bullish. As you can see the above positions involve calls only and the Put/Call Ratio signals BULLISH. Back to the drawing board. :)

That would eliminate all on ET. :)

I'm the OP of this thread and also not a "troll". Since I don't find the Greeks useful I wanted to start this thread and find out what people use them for, perhaps give me a different perspective. The pro-Greek posts ended up reinforcing my initial option Greek skepticism. :)

Yes .... As in my post on Friday when I wanted to bring attention to a post #3 but not quote it. I only had to count to the third post, but in a thread with lots of posts that would have been impractical. The 1230.00 PCLN weekly calls reached a high of $1.70. But why? :)

JavaScript ...... Below is a code snippet that should get you started. Tools > Script Editor Enter the following JavaScript code and Save. function stocks() { var stocks = ["AAPL", "GOOGL", "PCLN", "QQQ","MSFT","AMZN"]; for (i in stocks); { return stocks } } function fun_with_math(C1)...

From what I see in your formula you will always get the equivalent of: Buy $1,000 worth of XYZ. Sell $1,000 worth of ZYX. :)

Not number of shares, but dollar amount. Buy $1000 worth of BLK Sell $1000 worth of WFC Round the number of shares to a multiple of 5 or 10 to avoid odd number of shares. :)

Your sum is wrong, should be 1.097. Why bother with your formula? Buy $1,000 AAL, and sell $1,000 LUV. No formula required. :)

It has nothing to do with shorting PCLN. Take a look at xandman's screenshot in post #3, the PCLN 1230 calls were going for about $0.12 when that one call went for $1.70. This isn't a one time occurrence with the expiring OTM PCLN calls, it happens regularly. :)

How do you get those prices? I assume this is a credit spread. 1230 call at $1.70 1220 call at $2.79 As opposed to my guesstimate fair market price. 1230 call at $0.70 1220 call at $1.79 The end results are the same. I still don't fully understand the idea behind it. :)

I think I found the other strike. The 1220 call at $2.79 - also grossly overpriced. :)