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Good post rodden. I for one would'nt be long gold. Would wait to pierce 400 and short it and use 400 as a tight stop. I guess I am a perennial mild gold bear since in the past 10 years we've had the MOther of all geopolitcal events and gold barely moved up. Iraq invasion of Kuwait with oil...

I don't follow it quite as much as you but here is my "stating the obvious" take on gold. Short term: Gold would probably have some support at $400, the magnitude and speed that it breaches that level would probably panic either camp and turn that $400 into mid term support or resistance...

I was reading the press release about the TT deal with EUREX and interpret it as follows.. If trader were to open an account with a FCM like IB, Velocity or Goldenberg to trade Eurex contracts in Feb 2004 trader still needs to pay the XPro at $1400/mo and not get relief since the deal signed...

Try ivolatiltiy.com, optionvue, optrack (trackdata vendor) or better yet create your own realtime (the 1st two are 15 minutes delayed). To create you own, google for Excel addins and there is a company that will sell you VB/Excel option forumlas. Need a lot of work though but probably worth it.

Check out an option book by Gallagher w/c details trading ATM straddles and its expectacy. As a previous poster just said, you are looking to gamma scalp and there a lots of posts here about it. You can recreate the phantom straddles Gallagher suggest and run them in an excel and see what stocks...

mixed strike conversions? Some risk but maybe worth it coz they pass the cost to traders?

Hi Bluehorseshoe. Can you trade futures options on contracts using elec platform? I always thought options are routed to a floor somewhere or OTC where you still have to talk to a broker. Eurex bunds for instance are elecronic w/o a floor BUT their options are manually executed where brokers are...

By the way , if you think going to the floor means someone got you a nice job, you are so way off. How long have you been in the trading business? Going to the floor means you have to have your own 25-50K to risk, another 1K-2K/month as seat lease, pay a clerk 30K/year, not to mention spit...

Hey I missed boat simmer down now. I am not lecturing. I am just a little peeved that the marketing arm of some firms here are trying to re-package something that at this point should not be packaged you know why? coz THE SEC says using options to go around uptick rule is ILLEGAL ! A while ago...

WTF is that about? Before this letter, bullets were gray area not they are illegal . What other versions could there be? Whoever is doing this is threading dangerous ground. My best guess is they are probably using mixed strike conversions. In the event of an audit the SEc is going to say why in...

I just want to make sure everyone including me understands that put credit spreads are the SAME as call debit spreads in terms of profitability. To have it trade away from that basic premise would invite arbs who will arb the box spread. Example: with stock @ 100, buying the 100/105 Call spread...

Archangel, check out trakers.com Heard it today on CNBC, some kinda weird form of gold futures created by Merrill Lynch and will trade on GLobex. What's next crude oil trakers, coffee? If this works in gold , I would be one nervous NYMEX seat holder at $1.6M

would be the skew. since typical skew of equities is stepped up on the put side, you are buying low vol, selling high vol sorta like buying a $1 bet for 90 cents. Ditto on the put bear spread. Biggest issue is when the underlying vacciallates around the short strike. You are going to go crazy...

Maverick check out windale.com. You'd probably be better off , learning a little VB or Excel VBA, and creating your own. Essex is a little rough around the edges,look and feel of old windows programs definitely not state of the art.

Just spoke with a broker who specializes in NAZ stocks. He was a former mkt maker and now manages a branch of a decent size pro firm. He says that with bullets gone, attention has shifted to NAz stocks due to easier short. I always knew that all you have to have in NAz is an upbid. What...

Good point about spec participating on downtick as long as he is not the first. Forgot about that . Sorta like being the bouncer in a NYC nightclub who controls the velvet rope, the moment he lets the first person in (the long stock guy who hits the bid) he can then follow him into the club and...

I think conversions would be included in the SEC letter since they are just another go around the spirit of the uptick rule. Notwithstanding that issue, I agree with Don that conversions on core stocks are far cheaper than buying bullets daily at 1.5 cents per share. Heck you could payup 25...

Possibly thinkorswim

One day bullets clearly fit under that description of no eco benefit. But what about conversions, while it has"economic benefit" to market makers as they manage risk throughout the day, conversions for desk pro traders could also fall under the 1 day bullet. i.e. use of it is solely to skirt...

Can anyone here recommend a software system that would print out fair value sheets for options on futures contracts (gold, sugar,etc)? Thanks