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His yahoo handle (which is in his bio on here) is also EOMPlus. Not very well hidden.... - The New Guy

Wow, that was one of the least suspicious posts I've ever read... it looked more to me like a not-very-well-hidden attempt at getting some of Multi's criteria out of him.... - The New Guy

The options we bought had $.20 in theta risk, no way around that. That represents %10 of the position he initiated. 7 days is plenty time for time decay to kick in, especially 9 days til expiration. - The New Guy

There's a chance you could have a currupt TCP/IP stack. all you'd need to do is uninstall it and reinstall it. Not much of a problem in XP, but I know it was in earlier versions of Windoze. - The New Guy

I don't know any serious option traders that think direction is unimportant. I do know some who try to make it less important, however, but none that don't take it into consideration at all. Both the underlying security and the options (and all their greeks) are important in my mind...

Any time! - The New Guy

Those are the Nov puts... We bought the Oct 30 calls. Edit: also, 20 cents on this play was $800 difference, or %10 of the initial trade. That's a pretty big spread to me... Imagine if you bought in, then PEET was double downgraded and you were fortunate enough to get out at the bid...

errrr, here you go

here you go...

Ah, well that's different. In that case, I'd put "=If(A2>0,A2,"")" in B2 (or your first free cell in the 2nd row) and copy it down the whole dataset. Mark it "wins" then just average that whole column like I described above. I'll post and example in a second.... - The New Guy

Hey, OT question for you. What makes a MM hit a price between the bid/ask? I mean, theoretically you never should, right? I assume you set the bid/ask to a model that gives you the better probability of a win in the trade, so why do you guys sometimes take something offered in the middle...

Just one more thing... There are other risks that I'm not fully comprehending either. The amount of money may not be much different for what you can lose, but the probability changes alot when you move from equities to options. Also, it's important to note that the bid/ask spread on the stock...

I second that.... mods?? - The New Guy

imho this trade had very little to do with options. The core of this trade is that he has a directional pick of a stock that he feels very confident in. So confident, in fact, that he's willing to leverage it to the tits, and he feels that he can overcome the inherent negative expectancy in...

Look at it this way: Peet 2.20 * 40 * 100 = $8,800 when the underlying was at $32 and 9 days till expiration. Peet theoretical call price 1 day to expiration with the stock at $32 = $2, for a loss of (.2*40*100) 800. Stock at $32 * 4000 9 days til expiration = same as one day til...

lol... it's not me you have to worry about, trust me. ;) Some other poster on ET put it perfectly in my mind... The market is like an ocean, and we're just the small fish. If we waste our time in a tug of war with each other we're going to die young and hungry. What we need to do is pick...

I don't trade the ER, so take this advice for what it's worth. The single biggest improvement I have ever made in my trading is to exit at the stop I defined when I initiated the trade. In fact, for my style of trading I'm almost paranoid of losses. Now, if the trade doesn't almost...

Congrats on your first post, I see that you carefully selected it! - The New Guy

MUCH riskier, if only for the fact that it had a week to work out, and no more. - The New Guy

I had the same feeling when I started looking at using options as another tool. Here is what I've learned so far (please note, I AM NOT A PRO). 1. Options can be very complex, and there are many very good investors/traders taking the other side of your trades. Tough crowd to beat. 2...