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Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

just21, you said: " For the average trader, options is a losing game most of the time." Are you referring to buyers or sellers of options? Actually both. Even covered writes , which sound like they are a low risk strategy , really are not. Covered Writes are mathematically the...

Who is this? <img src="http://www.tonyoz.com/dude.gif"><img src="http://www.tonyoz.com/ball.gif"> Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

There are different phone#'s for First Options or SLK customers. If you want tech support e-mail to : reditech@slk.com or call 212-433-7235 and ask for tech. support. It would of course be up to REDI if they wanted to include this feature in the software. If you want to have a custom app...

metooxx, I'm not referring to sophisticated traders like you with infrastructure, pricing models etc. The trader who attempts to trade options with no edge, has a big disadvantage . Many traders think options markets are "liquid" like stocks and they think they are always are going...

DaytraderDave, I see what you mean. If you open a position Window, REDI+ will give you a seperate P & L for each stock, not for each trade. As Cash mentioned, you could create a program in VB or C++, that could give you a separate P & L for each trade, non-realized & realized P& L...

Does anyone know how to adjust the positions window so it doesn't keep cumilative P/L? Example - Buy and then sell KO for a profit of $100. Later in the day I purchase KO again, and the minute the trade is executed it shows me up $100. This is the first software I've ever used where it does...

Generally no LLC likes naked option traders.We would allow some naked option writing if a trader has 75K+ in capital and he is an active stock trader who knows the risks associated with naked option writing. The risk vs reward for the firm is not there . If you want to put on Long Straddle...

Don Bright, I agree with you on that 100%! There is really no edge in option trading off floor unless you are using options as a hedge(Conversion, etc.). Word to the wise, trade stocks and use options as a hedge to get the edge! Gene Weissman...

Just a note. We will allow option trading at our firm , for traders who understand the risks of options and use options strategies to trade against their stock positions(synthetic call, Conversions etc.). Since we are set up as a LLC, the minimum capital required to use the option montage...

JWKirkland & mrktwiz , Thanks for the kind words. Let work together in the trading community for the benefit of all. Personal attacks really don't help anyone. Speak to everyone tomorrow. Gene Weissman Lieber &...

hotlanta, The examples I gave were not any real firms, but I was trying to get my point across. The firm with the higher overhead(larger operation), will have more problems in a recession or slow down in trading. Firm "A" will be at risk in a slowdown in trading. Remember a spreadsheet...

I made this comment some time ago about size of a firm vs stability. I think that is what this thread is really about: Size of a firm vs risk management/stability Just a note on L.L.C. risk management . I know some traders think that firm capital equals stability , but capital alone does...

Def & Sail, I was an Option MM from 1984-1997 on the AMEX in various products. As the situation is now on the exchanges, I doubt anyone could make a living as an independent Market Maker. There is no edge, no order flow and pick off orders. That is the point I'm making. Sail, I doubt you...

sail, Most upstairs traders on the retail level fail to understand unlike stock, there is no "real" orders in most options. When you are buying and selling, you are buying & selling to the floor option market maker. If the MM is constantly getting "picked" off electronicaly , the MM will...

metooxx How are you? I know what you mean, but you know as a pro if the market maker makes no money and there is only four big Option MM firms left, is this really a market? Maybe a true ECN for options will be the answer. In life you cannot always "take" you have to give some back...

Just a note. Pacific Coast Seats are selling at $31,000 and I heard many of the seats are for lease and there are no takers! This is just one more example of how multiple listing of options, tighter spreads and the ISE have killed the floor business. Imagine you were an independent market maker...

Manrico Scremin said: I'm not surprised at the lack of response. Let me float another idea the firms might find more acceptable: 1. Professional firms send the information about actual numbers of traders in each category along with turnover statistics to Baron who swears to keep that...

tctrader, You said: A firm can still have a website running and still have phone lines connected and yet be utterly unable to carry an account due to a complete lack of personnel and failure to pay multiple creditors, and could be a risk to investors or customers. Everyone knows this ...