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Have you guys looked at whats happening in silver/copper futures ? Thats where the money will be made IMO.

You should always close your trade before the end of Fridays close unless it's well away from the strike price. The option doesn't technically expire until Saturday, and the closing price at the end of the day is not the price used for options which is determined by the MM at 15 mins after...

I got into some put spreads on SLV for 2012 at 40/30 and 2013 at 30/20 It wasn't that hard to sell the lower strikes as the spread was pretty tight for LEAPS. Both of them cost me about 1.50, so I can max out at 8.50 gain, if SLV tanks. Also I bought some ZSL in the IRAS, and selling...

I like inverse ETFs and selling ATM front month covered calls against them. I've been doing this on EDZ since October and am way ahead just from the premium selling. This will be the first month I will have to buyback the calls for more then the premium sold. So I was bearish on some...

I wouldn't worry about getting stock put to you early ... Most of the time I've seen it happen is when a position goes from far out of the money to deep in the money. Also its worth noting that getting stock put to you is entirely random - I knew 2 guys who had the same naked put position...

Oil is down cause the dollar is up - the dollar is up cause of the EU crisis. Do you expect people to start driving less ? Do you expect people in China and India to not start owning more cars ? (like 1 in 100 have a car in China) If you answered yes then sell your oils stocks and...

If anyone uses TOS they have the running audio of the pit in the "Market Cast" chat room - Ameritrade customers can also use the TOS platform to access the S&P pit. Beats paying 100$/month to tradersaudio.com Oh and if anyone checks it out please read the FAQ at tradersaudio before asking...

4$ or 5$ Calls ? Selling any front months ?

I'm just looking into ES trading - I've been day trading ETF options mostly SPY (2-3 months out) for awhile and doing well enough, but I'd like to at least look at trading ES. When going long ES do you guys hedge by owning SPY puts ? Is there an equivalent ratio for that ? Like owning 10 SPY...

The idiots who were running the computers and were trying to auto-short everything finally figured out there was a problem when they were getting filled at .01 - and that was when the DOW was -998.

Hey Neke - I wish you well in your trading and hope this is a better week for you. I am curious if you're paying the full 10$ +.75/contract for options at Ameritrade ?

I agree with Achilles that all those sell orders that caused all those busted trades were most certainly naked shorting. If anyone looks at the entire list it is mostly low volume, thinly traded ETFs and those had to be market orders to sell the best explanation is shorts opening up naked...

Think of all the put buyers who took it in the ... I'm surprised they didn't wait until options expiration week to screw with the market.

+46.50 on the ES = wow Tomorrows trading is going to be crazy.

Not to change the subject but, Stefan you can have cash secured naked puts in cash accounts like IRA accounts if you have a large enough account. I dont know if this is true at IB, but you definitely can do this with other brokers.

I picked up 10 (longest dated at the time) calls on ESEA when it was at 4$ and PRGN when it was at 5$, but this was back a few weeks ago when the market was looking like it would never stop going up. I was looking for both to move up 1$ and getting out with a nice gain. Both are down alot...

They didn't bust trades on the underlying from the options that you owned and they didn't say anything about busting option trades although there were obviously many option trades that were 90% off the last price before the meltdown. I do hope you keep fighting and I'd put calls into the SEC...

The Wiki says it all: http://en.wikipedia.org/wiki/Lenny_Dykstra "In July 2009, Dykstra, whose net worth was estimated at $58 million in 2008, filed for Chapter 11 bankruptcy, listing fewer than $50,000 in assets against $10 million to $50 million in liabilities." 50K assets and 10M-50M...

Ah well you didn't say options and that does make a difference, but I still think the fundamentals in DRYS are terrible compared to the rest of the group. It took me awhile to get my calls filled at mid points on those thin traded stocks but I got it done - this was like a month ago.

I think in the end the NYSE using their slowdown method will be the culprit from yesterday. The NYSE's liquidity disappeared but orders still came flying in ... I guess thats what you get when you send in market orders and leave stops in place.