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A black man can knock a white person down from behind, stomp on his head, call him a "cracker", and then steal his wallet, and the crime will be labeled economic, not a hate crime. So I am unimpressed by those statistics.

Here's my contrary indicator that will signal the gold top: When deadbroke throws in the towel and goes long.

The Nobel Prize for Economics should go to Ron Paul, who predicted the mortgage crisis back in 2003. Of course nobody in Washington, D.C. or in the media paid any attention. After all, anybody who believes that the federal government should be restricted to do only what the Constitution allows...

If you are only selling the calls you bought previously (so have no net short position) you have no liability. Somewhere somebody else is short those calls (perhaps the original seller) and that person is the one who has to sell shares at the strike price if the calls are exercised. Very few...

An iron butterfly is basically a degenerate iron condor in which the short call and put have the same strike price. So I fail to see how an iron butterfly can be "equivalent" to any iron condor other than itself.

You have discovered the skew. Because most asset prices can go down faster than they go up OTM puts at a given distance from the spot price cost more than OTM calls at the same distance. The market is telling you that there is more risk in the short puts than in the short calls at the same...

I trade iron condors on occasion. No, it doesn't mean I'm smart. It just means that its one way to try to make money in the markets. Like everybody who trades iron condors I'm well aware of what my worst case loss can be. As for any option trade sometimes they make money and sometimes they...

Being wrong too damn many times.

You can sell an option at any time. If the stock goes from 300 to 305 in two weeks a March call with a strike of 350 will *not* go up by $5 because it will have a delta well below 1. (In fact a call with a strike at 300 would only go up by about 2.50 because its delta would be near 0.50.)...

When the Republican Party rejects a man like Ron Paul and offers up Sara Palin instead, yes, it is retarded.

In the housing market capitalism was never even tried. The government has been meddling in the housing market for decades. The federal reserve keep interest rates low encouraging speculation. Congress passed laws forcing banks to give loans to people who couldn't afford them. Congress...

Ahmadinejad has a big, fat mouth but remember who threatened to invade whom. The U.S. and Israel have for years been threatening to invade Iran, Iran hasn't threatened to invade us.

Okay, by "biased" I hadn't understood *how* biased. Most iron condors involve selling a well OTM bear call spread and selling a well OTM bull put spread. You are considering the case where you expect the underlying to go up, say, (but not up too much) so you buy a near the money bull call...

A "living Constitution" is really a dead Constitution. It means that some liberal judge will decide what law he wants, and then pretend that it was lurking in the Constitution all along, hidden somewhere inside the mysterious penumbras and emanations. It means we no longer have the rule of...

What does delta bias have to do with it? An iron condor, put condor, or call condor are all synthetically equivalent. The main problem with a condor is that it starts with an in the money short call or put which increases your risk of assignment. Another practical issue is that open interest...

The Democrats suck. The problem with this country is that the Republicans suck too. Ron Paul doesn't suck. That's why he's considered by his peers and the mass media to be a kook and a fringe candidate.

Here's another question: What does the Constitution say about the form of legal money? Answer: Article 1, Section 10 says: No State shall ... coin Money; emit Bills of Credit; make anything but gold and silver Coin a Tender in Payment of Debts; Article 1, Section 8 says that...

I'm sure you'll find that every market maker knows the greeks for his option book. And I'm sure it's not just an intellectual interest. And yes, he gets the greeks from theoretical models, although they may be proprietary and not generally known.

That depends on how accurate your theoretical model is. There are pricing models that allow for non-zero skew and kurtosis. There are pricing models based on variable volatility. There are pricing models based on the underlying having GARCH(1, 1) price statistics. For each of these delta is...

Yes, Fox is biased to the neocon end of the spectrum. But MSNBC is just as biased to the left wing, Obama side. Chris Matthews loves calling every critic of Obama a racist. That almost makes me nostalgic for Shrub. Anyone could criticize George W. Bush without being called a racist.