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To each is own. If I did this kind of thing I'd sell a vertical credit spread. Your return is less but your risk is defined. You can still have positive theta. But one person's meat is another's poison. Just saying what I would do.

I agree. This argument has been argued again and again and again. Experienced trader: " undefined short gamma risk is dangerous." Newer trader: "No its not becasue...." I recall on this board way back when I lucked out with a short gamma trade and made a good profit. One smarter trader than...

I haven't posted for awhile. This is a question and not an argument. Would an exception be if the VIX is low, purchase 2 year + out leap SPY puts - basically thinking buying vega cheap and all it takes is one good spike in volatility within a six to twelve month period? But, I think this is...

Let me try again.

I have never attached a file when I posted. Hopefully this worked. Its not an XLS file. I am just trying to attach a jpg file the last 2.5 years of the 20 years from a TOS chart. If it doesn't go through, I'll try again - maybe. No need for the 10 year VWAP with 3 stDev bands free or...

I rarely post. I even rarely lurk. But, I have been lurking recently. It depends a lot on how you set up the 50/200 day MA. If you set it up daily for 20 years using the SPX (cash index) 50 day EMA and SPX 200 day EMA, the 50 EMA hasn't crossed above the 200 EMA since June 2003. The...

Covered calls (synthetic naked puts) or the selling puts against short stock (synthetic naked calls), just not the kind of risk I want to take in any market. Don't want to debate it though, just expressing my preference - saying this because some will come back at me, saying how they have the...

I am not sure. I question whether the current situation has a historical precedent in the last 40 years. #1. Yes, there is plenty of liquidity; just nobody wants to lend it out, simply because they are concerned about being paid back. Also, turned our backs on the Volker doctrine, in...

I hesitate to comment on this because it is primarily TA on the ES, the purpose of this forum. But, I will anyway. Problem is the American consumer which drives 70 percent of the US economy is broke and deeply in debt. And therin lies the rub.

This is by far the funniest f******* post I've ever read on ET!!!!

Wow!

I use SPY options to hedge the ES instead of ES options for that exact reason. Used to use ES options to hedge. SPY options are better.

They'll keep them there all night if they have to. But, they won't let them go home until they vote.

You didn't underline "in light of todays events." which refered to 9/15/08. But, in fairness to you, if you are a proponent of cash secured puts after today's events 9/22/08, then yes, that does account for a good answer to my question because 9/22 reflects 9/15 very well. The other stuff in...

Actually it was a pretty good answer to some question I am sure. But, it wasn't an answer to my question.

I've already discussed this very issue. I don't like covered calls. I do not like cash secured short puts. I don't like naked put sales. Your choice. Do what you want.

I went back and read it. Based on my more careful read, the best I can tell the SEC hasn't decided yet. SEC staffers are recommending to the Commission. Staffers understand market implications first and political considerations second. While the commission considers the political first and...

HOBO Well, its confusing because their statement immedidately before the one you cite says: "Short sales of securities identified in Appendix A of the Emergency Order as a result of the expiration of SSF sales made today and held to delivery would not be excluded from the ban on short...

The government shouldn't have bailed out Bear Stearns, Fannie, Freddie or AIG. They did the right thing by conserving (taking over) Fannie and Freddie, so they can see how bad it is, which will take a long time going through $5.0 trillion of assets. But, they shouldn't guarantee those bonds...

Aside from the serious posts some are just having fun at your expense, because nothing is going to happen to you. It's on the broker. The SEC can't keep up with what they have already and they are going to go after guys like you?