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Philo, Very nice questions for a noob. Surprising. "Do you look at term structure vol? Do you look at individual strikes implied vol?" -My favorite of them. This is what trading options is really about.

Oddly, each of the most dominant option trading firms on the floor, in my day, had policies prohibiting their traders from being net short options. Policies that a violation of led to immediate termination. Each of the firms I am thinking about were freakishly profitable and turned into massive...

"so when people start talking about buying options I think it's criminal.' ...and yet, I always traded from the long premium side...

Your answer remains NO

Tommcginnis said -- "We're done here. :finger: " Classy!!

Not aware of what you mean by DTE or multiplier. 1- Preferred analyzing option values of A vs. underlying A, and analyzing option values of B vs underlying B, than options of A vs options of B. 2- Never looked at risk from an expiration graph perspective, unless it was expiration day, so the...

Never once crossed my mind. Irrelevant.

I'd hit the books if I were you. ^^ This. If you think Vega is the counter to Theta. Back to the books. **Premium Harvesting. = Pass me the popcorn, I know how this movie ends and I love disaster films.

Wow... I'll call you in 5. Good memories.

I'll call later. You will laugh. I just can't remember if you were in Motorola or Apple (maybe neither, but I think I remember you in one of those two).

Hilarious, I know you well. If that picture is recent you look exactly the same... and you'll probably remember me as the guy everyone came up to, every month, asking if their damn options should be early exercised :-)

btw.. your photo looks insanely familiar, did you ever work on an exchange? Amex maybe?

Because you need to purchase the out of the money side before you can exercise the in the money side, otherwise you lose the optionality. That is the entire point of the early exercise formula. It is to determine cost of carry of current position vs. theta of transferring that optionality to the...

I think I would kill someone if they early exercised a call in my account without me first/simultaneously picking up the corresponding put.

I've had my derriere handed to me several times being long vol, and I swear by being a long vol trader. Now if your friend had several thousand crude options on, ask him the last place in the world he wants to see the market move on expiration, and he will tell you to his long strike, for...

"A simple example is if a stock is range bound, hedging more frequently will give you a realized vol higher than close to close." The worst thing you can do is overhedge positive gamma. The argument surrounding gamma shouldn't and can't really be done discussing such small volumes as it is not...

1. sure a choppy market will hurt you when you delta hedge short vol but if you sold vol at a high enough premium (accounted for the choppiness), you will still come out on top. Ah yes, this magical premium over value that is so easy to find and known in advance is priced greater than it should...

1- Convexity is really a term related to bonds. Also with one letter changed it is the name of one of my main accounts in League of Legends. 2- Let me bother you more. I will go so far as to say that if you are attempting to use options for scalping inside or outside of daily channels, that if...

No didn't read it. That's pretty great. Not practical, but great nonetheless.

Therein lies your leap of faith. Utilize B to benefit from A. First, prove to me you can do A, before wasting my time talking about B.