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"Did you always like being short ATMs vs being long the OTMs/wings - long the butterfly at all times?" Yes! 100% of the time. All time frames. Just got wider as I moved out on the curve. Like a giant wedge. "And were you always long OTM calls vs short OTM puts like most SPX groups." No...

Well at least I am glad to see you learned now how to spell it correctly. With a Z. Funny thing is I happen to be in Brazil (Rio) at the moment. Speaking of which, it's time to put down the cell phone before it gets robbed... kkkk

Technically speaking, passive or aggressive, you are fighting time decay regardless. Just put in a MOC order and flatten on the close. It's doubtful you do better than that actively managing, anyway. ...back in my day... people yelled at you for saying things like options had skew. There were...

"OP is in Brasil" Let's answer him in Spanish, and it's spelled with a z.

Why would anyone teach anyone about options if you can't call them horrible politically incorrect names and throw things at their head?

When I thought vol was too low... 9- Load the boat, dynamically hedge daily attempting to make back a little more from gamma than you lose on theta (which if you are correct, and vol is too low, you should be able to do). Wait for the pop. Preferably I'd still go 1*2 puts and 1*2 calls as it...

You are wasting your time even replying to him. The dudes everything I would warn people against.

NG - Ahhh... Once upon a time, one of the most fun and dangerous products ever to trade.

It is really quite simple. Unlike most parameters that can go higher or lower, time only goes one way. All other parameters remaining the same. As a result of time, tomorrow an option will be worth less than today - The owner of the option loses over time. In return. A long option position...

"If you are selling premium in the last 3 days DTE you are actually selling GAMMA - not just premium. GAMMA is the amount of change a tick gives you for every tick in the underlyings' implied volatility. As you get very close to expiration, GAMMA gets very high and premium disappears quickly."...

"many of you are at pains to imagine situations where I might lose some money. " ??? It's pretty obvious where. The problem appears to be that you don't think in terms of opportunity cost of the transaction. You see it only as premium in, and that makes it better no matter where it goes...

"Mark Fischer" Same as Mark Fisher as MBF clearing? Coaching???????

“Some say IV is mean-reverting,” I’d agree, but means revert too. “Some say high vol begets higher vol and low vol begets lower vol. What do you think?” I agree, but subtly different. I think of it like molecules. Calm they tend to remain calm, but once you destabilize them they take time to...

"Optons(sic) with 30 days or more to expiration will not suffer any theta in 2 days of holding." Of course they will. At a high volatility it could be quite considerable.

Appears a waste of time. Fun from a mental masturbation perspective but unproductive for the means you are seeking. Your methodology apparently involves some form of spread trading on the underlying. 1- Delta appears essential to that strategy. If you try to recreate those deltas using a...

That last example... One no better than the other. Can explain later but right now I need to drive 6 hours to kennel my dog, so I can travel tomorrow. Will explain later.

For me, options trading is not about betting. It is about knowing the relationships between those different strikes and different months and how they (should/must) move with one another. As they begin to move its a matter of picking pieces out of line, spreading something in-line or better yet...

I'll stop responding to any of your posts. Problem solved.

Probably, yes. My funniest story is why I got my badge taken away from me on my first day trading. The exchange despised the company I worked for, so to bust my nuts they delayed my membership for 2 months, which to a twenty-two year old was life. So when I finally got my badge I asked, the...

"I appreciate the sensible responses from a couple of members, but comments like "**Premium Harvesting. = Pass me the popcorn, I know how this movie ends and I love disaster films." just show immaturity and trollishness." Immature - Sorry, I come from a world where trading meant hanging 3 ft...