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Moderator, I think this post should be removed. If this person wants to sell something, do it in the classified section. kny 3 :cool:

Books about Indexes. Bittman has a very basic book, "Trading Index Options", and it's not expensive. But it's pretty basic. Skip the Market Wizards books, those won't help you, and although I only know a few of those written about, the term "embellished" doesn't do the stories justice...

FullyArticulate had the answer in his link. These are End-of-Quarter options. I think they had them once years ago. Institutions clamored for them, then didn't trade them. This was before ETF's though. They came out not too long ago, it'll be interesting to see if EOQ at the end of the year...

Hey Uncle Tom. All these answers are right. Don't exercise & sell stock, just sell the call option. If you exercise and sell the stock, even if the same day, you must post margin. You probably have it in your account but it will be segregated (and unusable by you for other positions) by...

Hi. The CBOE has a link at its home page to an options simulation program offered by optionsXpress. I haven't tried it, but for noobies that want to test strategies with real-time prices, commissions, etc. it might be worth looking at. kny 3 :cool:

Now when people tell me about "Nuts being served on Southwest", I'll know they are talking about Don. kny 3 :cool:

No, only 2 people showed up at the wrong location. The guard said people come by all the time looking for the Everest Room restaurant on 44 th floor. I'd have a tough time keeping a straight face with 7 story building. kny 3 :cool:

As of 5:30pm last night, "only" 2 of the seminar attendees had asked CBOE security how to get to Goldman's office on the 14th floor (CBOE is 7 stories tall). They were directed to correct building. What were they serving at Cactus? I knew I should have gone! kny 3 :cool:

Spreads are price sensitive. The underlying needs to get to a certain level (or not to a certain level if you're doing a credit spread). Spreads are time sensitive. Spreads won't go to their maximum value until expiration. So that's the conundrum (I like that word). If you want an extra...

Actually...Hackney's Printers Row 733 S Dearborn, is a good idea. I don't know their hours. The Hilton is 800 S Michigan / Wabash, a 5 minute walk. 440 S LaSalle is a 5-7 minute walk. For you out of towners, Hackneys has been voted best burger in Chicago in some polls, top 5 in all...

Hey Simon1012 By initiating a collar for a credit, I am assuming you mean eg selling a call for $2 and buying a put for $1.50 on a stock you already own. You can lose the opportunity cost and commission, but also have risk between the current price of the underlying stock and the strike...

Believe me Don, we don't either! Have a fun event. kny 3 :cool:

Most of you already know this, but for those not familiar, the 440 S La Salle building is not the CBOE building. 440 is attached at the South end of the CBOE building and has the same color exterior, dark brown marble. The tip-off you're at the wrong check-in desk might be that the CBOE only...

Arnie, You're kidding, right? kny 3 :cool:

Cache Landing had it right, it's a bit dated ('94?) but it's worth while. kny 3 :cool:

Option Trader What do you mean? If you buy a $10 put you pay $10. There is no margin allowed. It doesn't matter if you own the stock or not. Don't pin this one on IB. kny 3 :cool: PS I know, some LEAPS are marginable, most firms don't allow

Hey jj90. Riskarb is right again. SPX deep in-the-money puts a good example today. With SPX at 1306, the 1400 strike put, 94 points i-t-m, these were the prices (I'm rounding to a # between the bid/ask) May 91.40 Jun 86 Jul 82.40 Sep 81.40 Sep shows first sign of...

Gnome, Sorry for sharp reply to you, was running to a meeting ("meetings are our most important product"), I was confident members would step in with a better explanation, and they did. To see how interest rates come into play, use any options pricing calculator (easy one to find is...

gnome, Wrong. kny 3 :cool:

Hey sevnseat. Has to do with cost of carry. AAPL currently at $67.50. Jan '07 65 put at 6.80 Jan '07 70 call at 9.20 Both options 2.50 O-T-M, same month, no dividend. Look up "Long Conversion" , they look pretty much in line to me. kny 3