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Thanks for stepping in DJR, and all others too. It is so damn frustrating to see all these newbs lured in by this so-called risk-diminishing strategy. About books: I'm beginning to think that if one is not able to understand Natenberg, at least partially, one should not touch option-trading...

You forget to mention in your review, as in the posting here, that CC's are equivalent to selling naked puts. So the question of the OP comes down to: what expiration month should I choose for my puts when I sell them? Sell a 3 month put or sell a 1 month one 3 times? Every book on...

Well put. Of course a cheap or free butterfly has positive expectancy once you own it. But the path to obtaining one has -exp in it in the amount to negate that effect. In the end the total exp is just the same as if you bought the fly outright. DV, thanks for your input. I see the...

Mr Cluseau, I'm glad to hear that you understand what Mav is saying. Please be so kind as to explain it to us. My measure to make sure I understand something is whether I'd be able to explain it to someone else. In that process I learn the most and often encounter problems that either make me...

Then show us simpleminds how it's not. One single example will do. If you can't give an example, how do you know? Ursa..

Hi Maverick, I'm sorry if I upset you, that was totally not my intention and I can assure you that I'm not 'emotional' about this at all. I really don't understand what makes you so upset. I thank you for spending your time on this thread as I learned a lot from it. I hope you will keep...

I know that, and I was certainly not suggesting that you were somehow misguided in your assumptions. On the contrary, if anyone here understands what he's doing it must be you. It is good that you stipulate it again; the trades are not made to improve expectancy but solely to 'play' any of...

I think I agree with this. The term 'expectancy' is of no use when describing a series of taken positions, it only refers to a single position, at least as I understand it. Expectancy is the expected value of a position in the future, given the actual current situation and a statistically...

Ver nice! Congrats. Now get some sleep this weekend :p Ursa..

Permanently! Of course there is not one single guy/company/system doing a real calculation; the IV is a virtual figure that describes the current prices given strike, longevity etc. The bid/ask of every options is what determines the market-price and thus the IV, and as we know these are...

You're doing well! Weren't you nervous for the ISM data? Looking at the timestamps you closed before the release. Why 4894, or is that your kitchen secret? Ursa..

Good one. I'll keep that quote. Ursa..

Since it says you're not allowed to sell naked calls I would assume the answer is no. How will the broker system know the position is only momentarily naked? The best way to flatten the position is to buy same number of puts and let the whole thing expire. Or just buy in the calls and then...

In that case you maybe shouldn't come here and ask questions, because somebody might actually convince you that it will not work, in which case you will be UNhappy again. On the other hand, your choice for trading options is a good one; it is possible to trade options for years thinking you...

I still don't get it. If you're allowed to have naked options you are allowed to, if you're not you're not. What's so difficult? Ursa..

My experience too. Even worse, they only fill half of your order and leave you sitting with the other half while prices move away. If you need the fill (for hedging or so) you have the dilemma of canceling and putting on a new order for the rest; this is extra costs when you pay a fixed-fee, as...

Gamma scalping == what you call theta-scalping. As said, I urge you to read the book again. As long as you don't understand the basics of that book it is useless to come here with questions about self-construed new plans. Believe me, sharper minds than yours (and mine) have been over all of...

CalPumper, you're a quick learner and it is always fun to see someone take the hurdles toward understanding options more fully. But I would really recommend you to read a few books on option-strategies, pricing and synthetics. It will take you a month or two to read them and another year to...

No of course not; as I said, is your good right. Wanted just have it pointed out. Also, you may be referring to pop-up adds, those I have never seen on ET but maybe because my browser doesn't open unrequested popups. As for inpage adds, I don't mind them and if they're really disturbing I...

First define what "correctly" means. Are insurers allowed to make a profit? How much? Is the market working efficiently? Do you mean now or in hindsight? etc etc.. Ursa..