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Yes, you are absolutely right. I assume stable vol since modeling/predicting it is above my pay grade. I am aware of the change in vol and its impact, but if I get the direction of the delta right I usually have a profitable outcome, Maybe not as much if vega was working against me. Yes, I am...

Interesting point.

Not as much as the whole story !

No, I need the occasional big pops to offset the gap losses. I have an identified S/R level where I take profits. But, if there is not upside to the next level in the underlying I don't enter. For example if I'm looking for a 1 pt move in the stock the option will move .50 if I'm right (50...

@TrustyJules I try to keep the losses at 50%, first bad close and I'm out. But to your point, a gap against me and I'm close to 100% loss on a specific trade. That dosen't happen much with my system but I can still be blind sided. On the other side, many times I get a bigger move than...

..or corruption. Sorry, it was too easy.

Ok, I'll play..what are you refering to ?

Do you want to answer the questions ?

And what size are they recommending ? Have fun explaining to you client that your long puts just expired worthless when the market just went sideways .... Just another BS 1/2 story with no specifics...why post it ?

So I believe the big boys are usually trading the underlying. But, if you had a 60 % W-L ratio on the short term direction of delta and you were using ATM , near expiration options as your vehicle.....is gamma enough to over come theta, slippage, etc. to achieve a positive expectancy ?? Any...

Ok, you have been posting and asking questions for some time...By now you should know that there is difference between trading and investing. Different risk reward profiles and different time frames.

@Spectre2007 I also trade a long gamma strategy, although more of a swing time frame, overnight to 3 days. What size are those trades ? Are you trading delta or vol ? Thanks.

Is YOUR 20-30 yr time frame going to mirror history ?

Yea, when I buy somet I meant the straight up mania. The public doesn't care about trading vol, that's too hard. If there is no free lunch no one talks about it.

Take it easy.....

LOL....who are you asking ? It is from 2009. History proved what...

Do you look at yourself in the mirror when working on your self reinforcing arguments ? "So give it a guess" ? Is that supposed to support some evidence ?

The excitement (both up and down) is gone because the mania is gone. Dumb money got burned, history was proven right again that if it is to good to be , it is, and most have decided that there are a multitude of better ways to transact business, than having to "override wallets" and worry about...

The IRS definition is not relavent to the the discussion. Per you're own quote you are acting on RE agent, hireing handy men, making decisions, etc. I own some commercial RE with a similar profile...not passive. Owning IYR is passive.

What you described is hardly passive.