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On April 20, 2011 history was made on EliteTrader in the Options forum. The largest percentage gain trade posted live on EliteTrader, a staggering 770% 2-day trade. Never before has such a trade been posted on ET, this includes all trading products such as stocks, futures, options, fx, etc. This...

No - the legs don't cancel each other out. Gaps WILL produce gains of well over 200% on either the ATM/OTM * puts or calls. * 1 or 2 strikes OTM.

Then you are back to square one. I have noticed some stocks continue in the direction of the gap, others trade flat or reverse. It's hard to buy an option that's 200%+ more than a day before, you could ask your same question in the Psychology forums.

Options are not priced for gaps. The trick is entry *, because you don't know when a gap will occur. * I'm referring to buying options - calls or puts - not selling.

The SLV Jan 2012 45.00 calls were trading at $0.50 when that post was made, now trading at $6.20. $20,000 = $248,000

I recommend Paul Allan's new book - Idea Man

Sold at $3.80 Sold at $0.87 - Biggest % gain I have every had.

I'm not sure, it was such a long time ago. :)

They are the weekly options, last trading day is Friday, April 22. I don't know were Yahoo gets April 20 from.

I was in a Mac store today, and as usual it was packed. ipad 2 is a good seller.

AAPL Earnings April 20, 2011 Bought 10 contracts AAPL Apr 2011 350 calls @ $0.77 Sell on Friday 22, 2011 (or Thursday) http://finance.yahoo.com/q?s=AAPL110421C00350000

I'm shocked that an ET member - stock777 - would post that he has never called for the banning of another ET member before when in fact a few years ago he did request a member be banned. Can you explain this stock777 ? You should be ashamed of yourself. :(

Current news story. "Smirnov got in a car in Surrey in early April, stopped in Seattle to buy a .40-calibre handgun and ammunition, and arrived in the Chicago area about April 9, a U.S. court heard. But before he left Canada, the 20-year-old unemployed computer technician took the unusual...

Sold @ $13.00 :)

Looking good, just need a little push to <= 540.00 :)

Bought 1 contract GOOG Apr 2011 550 put @ $3.80 http://finance.yahoo.com/q?s=GOOG110416P00550000 I expect to sell tomorrow @ $10.00

Higher option prices = Earnings coming up. Important scheduled announcement (FDA) Volatile stock (usually some tech stock)

When in-proper trading terms are used it shows a lack of knowledge and the rest of the story can be taken with a grain of salt. I assume you are quoting zerohedge and didn't come up with block instead of the proper term of contracts yourself. You should have noticed the mistake yourself...

I don't see how they made 38.20% in 2010 just be selling S&P 500 straddles. Take a look at the 1 year chart, it did not trade flat. http://finance.yahoo.com/echarts?s=^GSPC+Interactive#symbol=^GSPC;range=1y

I have never heard of option contracts being traded by the block, I believe the correct term is contract. Today's volume was over 100,000 contracts http://finance.yahoo.com/q?s=SLV110716P00025000 Shares can be traded in blocks, options in contracts, let's use the correct terms.