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Aha! A chance to learn something the non bloody nose way! Why would you not recommend straddles/strangles for a stock picking system? Thanks, - The New Guy

Thank you both, 'preciate it. - The New Guy

vig is a gambling term meaning the cost of the trade. Slippage + coms = vig. In options, the spread is so dang big and the coms represent such a large % of the trade on one contract that it's a big deal to deal with. - The New Guy

Does anyone know of a source to get historical intraday iv data? (preferably for free... obviously) Thanks, - The New Guy

Anyone looking at SBUX today? Near 52 wk high, ADX on the 30 min looks bullish, decent volume.... - The New Guy

imho trading a small account requires a different mentality than a large one. You need to take bigger chances, to overcome the vig which tends to be a larger % of your equity. Trading a small account is about dodging bullets, and trading a large account is about good money management/risk...

A VIX swap is a product that essentially isolates vol? I've heard of them, but not real familiar. Can you do them on any equity? I guess what I was thinking of is simply a way to get long or short the curve, and I'm not really sure where that would be useful (other than basket vol...

I wasn't thinking the same strike, but more like short/long straddles or something at different vols. I guess the reason would be that the smile may flatten or steepen, no way to know which? I'm sure there's no way to do this, a little too obvious. Just trying to understand why it's a...

Is that true? Couldn't you arb out the iv if that were the case? - The New Guy

Lol, man, I could have written this word for word. I think I may be one step ahead of you in this process, for the moment. What I've just learned is that options with 75-80 delta's are sometimes high like that because they have really high iv. You buy those and no matter how right you are on...

Hey foible, I've only scanned this thread, so if all this has been said before, I appologize. I feel that a prop shop (I've worked in a few) serves a useful purpose, as long as you know what you're looking for. It's a great environment to get a head start on learning about markets, the...

I'm still fairly new to options, but this makes the most sense to me: The two biggest strengths of options (imho) are their versitility and leverage over equities. Obviously leverage is a double-edged sword and can cut both ways, but structuring risk adverse strategies is one of it's strong...

Just watch the level 2 for a while, it should give you an idea. Or you could check the time and sales for the day and see what type of trades are going through. Obviously this wont give you a definative answer, but it should give you some idea. - The New Guy

Thanks Kevin, I for one found that to be a very creative bit of excel work, thanks! - The New Guy

yes, that's the one, thanks! - The New Guy

Actually, if I was more on the ball you could see that the first cross over occured yesterday well before the close. I'm talking about ADX crossing the DMI- which is above the DMI+. I have found these patterns to be fairly profitable, using a very similar system to someone's journal here a...

I hate it when I forget to attach the chart.... :D

This is the behaviour I was refering to. It looks fine on the 30 min (imho) but quite opposite on the daily. Of course, long anything is kinda tough today. - The New Guy

Interesting... thanks for sharing. I was asking because I run an ADX DMI +/- crossover system that BTUI showed up on the 30 min chart for today. However, due to other circumstances I did not take the trade. One of those being it looks bearish on the same system in the daily chart. Thanks...

lol, applesoft might work for this, haven't tried... ;) I really don't know of anyway to do it just in cell formulas. Generally it's pretty tough to copy and paste things in formulas in excel. The only way it might be possible is with a UDF, but I don't think you can do that either, in...