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Albeit for different reasons, I am glad we agree.

"The Nobel Prize in economics was awarded Monday to a trio of U.S.-based economists—including a married couple—for their “experimental approach to alleviating global poverty.” What a surprise. And bonus points for checking off the female and minority boxes. Only a shame that the two guys...

I don't believe that's for trading. I think you have a hydroponic grow room on the other side of that wall, and a nice sea of green. :thumbsup:

I saw it. I wanted to see if you would invest time to figure it out for yourself. But here's a clue. Backwardation and contango.

Because those losses are what eats at your soul and send you home totally absorbed in seeking a solution. Winning days are easy, you learn liitle. Losing days are where you learn and develop your character. Losing days are where you see if you can cut it as a trader.

I think I would suck trading against a simulator. No sense of consequence. It would be as stimulating as watching highly pixelated porn.

One of my rules was never to explain anything about options using puts... and selling puts is a 1,000 times worse. Double negatives - peoples brains explode. ...and saying a deep in the money call is a put, because a puts a call and a call is a put... :confused: Yep, Phylo... Options are just...

I never made the same mistake twice. But I did meet the aunt, uncle, brother, cousin, niece, nephew, sister, mom, dad, grandma, and gradpa of each of those mistakes. ;)

You stated short Jan vs long Feb CL has no directional exposure. That is not true. You would be a bit short. Rolling that + Feb to +March would make you shorter.

"I agree that selling an asset for below its market value, especially to a connected party, would be tax evasion, even in my country." Not just tax evasion. You would be violating best bid of a federally regulated product on a federally regulated exchange. That in itself would be a felony. My...

DON'T! I'm breaking into cold sweats just reading this.

"I'm almost too embarrassed to admit this, but when I first took an interest in individual securities in early '18 (I was into funds up until that point) I jumped in with both feet and loaded up on Tencent very near the 52 week high." You're embarrassed? I'm the one playing video games with...

"Please feel free to jump out of the convo at any point if reciting the ABCs gets to be too much." Nope, we gunna hammer this out. I'm just in bad shape, the Misses came down with a fever and for 5 days I've been sleeping in the other room and have dog walking duties in the morning @ 5:30 am...

Since I am severely sleep deprived I'll... Underlying =100 -75 call 100 times w/3 weeks =25 +70 call 100 times w/3 weeks =30; neither have extrinsic. You are up $5. Market goes to 150, you remain up $5. You had no upside gain potential. Market goes to 50, you give back $5. That was your max...

"So, wild guess: when you assign an option, the price may change between assignment and delivery." So close, but from there, you look like someone swinging at a Mariana Rivera cut-fastball. All the use your gains.. blah, blah, blah, forget. Meaningless. Try this - always best to work things...

Assignment will not change your delta. It's a substitution. It's the guy who assigns you who risks getting f'd. Which is why you should NEVER assign an option w/o first buying the corresponding OTM, and why the offer for that OTM should be the premium used to correctly calculate if the ITM...

"However, I recently read elsewhere that early assignment isn't necessarily a bad thing." ^ That one. It can even be a happy-happy-joy-joy thing. Unfortunately, at your knowledge level, explaining in greater detail would be exhaustive. Burn book #1. It was written by a moron.

Well, it is a prediction. Just one dimensional. The quality of which is dependent on the products associated volatility. The problem is using the word prediction misrepresents to about 99.9% of people what the market is trying to tell you about how it perceives the future, by ignoring the second...

@ironchef - It is not a predictor, it is the most likely outcome. The higher the volatility of the product, the less likely it will ever be the actual, maybe never, but nonetheless it is always the most likely outcome - basic statistics. Tommy boy is just stating a mathematical certainty. (cool...

Learn. I can honestly say that I have never executed a contract where my primary focus was on making money.