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Slept in today after an evening at the track. Many people here like to make a comparison between trading and poker. For me, it is similarities between trading and horse racing. I don't particularly like poker because of having to sit for an extended period of time. I can typically last about...

Come to think of it, I don't know what I'll do at that point. The exchange thing is just an idea. I'll have to wait and see how thing turn out, besides the fact of me lacking 200,000 is an important part. It may be a bigger headache than it is worth.

I was bidding on the May 35's for 4.10. Cancelled it after the stock fell back down and they didn't fill me. I gave them a minute when the stock reached a point where they would have had good edge on the trade, then said fuck it. May try again tommorrow, but in IP.

I don't disagree, the trend is towards larger groups with more capital and has been that way for years, but I want to be able to trade more stocks myself. Right now, even with enough capital, I couldn't trade more than couple stocks like this and could never get past two as a floor trader. As...

Stock closed unchanged on the day. I like the fact the stock is volatile, but how about closing on one end or the other of the extremes. I'm looking for more like .40 to .50 cents before I adjust.

Yeah, I know what going on that side of the pond. Sometimes I sit here laughing thinking to myself, "you're sitting here trying to capture a couple of fucking pennies of edge". At least it exists now, some people here can't come to grips that such a free for all won't neccessarily be so great...

My ten lot bid for calls in Bowater is jamming the stock higher.

Believe it or not, I am thinking of getting long IP or some of the other Paper companies. Be gentle when you pillory me for saying this, but Jim Cramer makes the case today on Realmoney.com. My own knowledge of the industry, which is fair to say is not that impressive, makes me think he's...

Sold a five lot of 12s @ 2.10 and bought 500 share of stock for 14.47. I , in effect, sold the put for .13 before commish. The market on the put is .05/.10.

Somebody finally stepped up to the plate and bought 1000 of the 15s for .40. The 15 straddle based on current markets is 1.15/1.25. I enter this trade when it at the same price.

The stock certainly isn't acting like it wants to drop.

Sold a ten lot of the 12s for 1.95, which leaves me a little short. My position had been leaning long 600 deltas because of false deltas which often occur when you have out of the moneys making you long. If the stock drops from here, I'll buy some stock against the position, if not, no big deal.

Yesterday, the Nasdaq was up 1% and csco was flat. Today, the Nasdaq is down 1% and csco is flat.

Besides, it will free up room in the account.

What I'm going to try and do today is replace my short stock with May 12 calls. This will turn the position into more of a traditional backspread as oppossed to a straight staddle. There is, at least, some time premium still in the 12s.

Thamks

Couple of reasons, one is the liquidity. I have been able to execute as much as 71 contracts sitting on the bid and offer. Another thing is, I'm more comfortable with smaller premium options. It's weird and shouldn't matter. The drawback in this aspect is there isn't a lot of edge. I...

Went to starbucks and got some coffee. Order wasn't filled but the IV remained robust. I had bought the fifteens yesterday for .25 and sold .34 stock against them, so the trade looks even better today than yesterday. People often ask questions in the options forum how do you trade delta...

Offered back out the 15s.

Hit cancel, quickly.