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SOLD -1 VERTICAL OIH 100 APR 06 150/155 CALL @2.00 ISE, OIH MARK 149.364

Bought +1 BUTTERFLY XSP 100 MAY 06 131/130/128 PUT @-.10 CBOE, XSP MARK 130.33 This butterfly was bought for a credit. If XSP > 131, I'd make $10. The max profit happend when XSP = 130 for $110, max loss $90 happend when XSP close <= 128.

Yes it's funny but what's different between this and someone fresh out of college start out at trade desk ? I don't mean to have bad attitude and try to spend other people money. My philosophy is to think of the risk first.

I'm also a software engineer. Did you go for prop-trading or start with trading desk ?

Among engineers, I have good math skills but not exceptional. What is SIG ? Thanks

It would be job on a trading desk. It could also be risk management, hedger, I like to do spread trading or future/commodity/currency trading. Thanks for your advice.

Since I am still learning, I don't want to spend my own money. I thought working for other people could give me both learning experience and protection of capital. I'm more interested in option trading than stock. Questions for all: If I put up $25K into prop-trading firm, will it be...

I consider switch my career to become a trader. I don't have much experience in trading yet but I like it. I'm more than 35 years old so I am afraid that those trading firms would not want to hire me. My background is in Engineering. Any thoughts or opinion ? Thanks, Nick

I have a lot to catch up to post here especially some trade where I made in Thailand. Here is the trade I made so far this week Sell April SPY 127 put .60 Sell April AMD 32.5/30 put .65 Sell April SPY 128 put .45 Sell April AAPL 70 call .60 Sell April SPX 1335/1345 Call $0.95 Sell...

I tried to sell 1330/1335 call and ask for 30 cents off the mid price and did not get filled. Same thing to 1330/1340 call :-( TOS customer support "hja" refused to call the floor to ask the actual price for me :-( [EDIT] Finally, I sold 1335/1345 for $0.95 and shaved 20 cents off the...

I'm on vacation so my post will will not be frequent for about a month. 02/23/06 Sold BRMC straddle Mar $45 for $3.20 Bought GM 22.5P back for lost around $80. If GM does not move down much, will sell GM 20P and leave only 22.5/20 call spread. Sold TSO 65C $1.75. This is a sell...

Here is the result after earning: The IV of Mar 62.5 call is 40.15% loss of 18% IV of May is 40.54% (only about 4% drop). IV of Aug is 40.68% (1.2% drop). Mar 62.5 call is now $2.75, May $5.05, and Aug $7.5. The RC Marc/May lost is $0.4/contract. The Mar/Aug lost is $0.75/contract. I...

Do you mean Marc vol will loose 20bp and may will loose 10bp ? This will put IV of both of them about 3x %. Or do you mean Mar vol will loose 20bp and May 10 will loose certain amount of vol which in dollar term is equivalent of Mar $ lost in vol ? Thanks,

Thanks! I got it at MAR/MAY 62.5 call at $1.85 credit and Mar/Aug 62.5 call at $4.00 credit. The IV data on the call side is here: Mar 58.37%, May 44.39%, Aug 41.88% Gamma for Mar/May is 3.95 and Mar/Aug is $3.5 I project that if IV Mar drop 20% and May drop 10%, the stock has to move...

Thanks IV! Another sign I'm not ready for this RC yet. I looked at quote just a minute ago and found that MRVL did not move much. Then I realized that I wrote down the earning announcement of MRVL wrong! This trade should have been done 02/23 instead. I'll scratch out the trade and redo my...

Thanks! IV. It's $1.90. I was in a hurry and posting number from the March 62.5 call. Is the 10% move the reason you prefer mar/apr rather than mar/may ? I'm gald this is just the paper trade. There are many things I don't know.

I sent couple emails to Tom Preston of ThinkOrSwim to clarify something I don't understand about RC and he replied back. Talking about customer service... Here is my trade Buy 1 MRVL mar 62.5 call IV 62.38% Sell 1 MRVL may 62.5 call IV 48.41% Total credit $4.20. This is still...

Coach, That was a great post. I appreciate what you have done for us not just trading but risk and emotional management as well. -Nick

Beside excellent suggestions by Donna, I'd like to emphasize on TOS seminar. If I do that first, it would have saved me a lot of money in the beginning. Books do not teach you how to trade. You have to learn it in ET forums. It's worth the effort to read these trades from the beginning...

Hi IV, I found the trade http://www.elitetrader.com/vb/showthread.php?s=&threadid=61937&perpage=6&pagenumber=11 It is a nice trade. I still have something I don't understand. When you put on RC with time < 15d, would the theta effect on your RC more than usual ? Also, you don't do...