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Folks, look at WCG. Around 43.6, down over 71. But the way OTM calls have bids. .50 for the Nov 90 calls. NOT a recommendation for anything, but for those inclined to take on this type of unpredictable risk (hey, what's a raid or two?), then it should be interesting. AZD

Div_Arb, That's just it. What works well for a while suddenly doesn't work. These announcements are difficult to predict (the actual data and the market reaction to the data) and it is usually best to enter with a small position. At least you weren't 100% uncovered with those calls! AZD

Spin, Good to see you are still "ordering takeout." :) The ratioed double reverse calendar. I think I know what you mean. You'll have to share an example (real or hypothetical) so that the rest of us mere mortals understand for sure what tricks you have up your sleeve. I'm not doing...

Decided to pass on FFIV. I don't have a good "feel" for what they might do. In the past, selling OTM puts has worked out well due to the IV collapse, but something seems "off" with this decline today. I'm not going to force anything. AZD

FFIV is always good for "entertainment." Reports after market close today. I am considering a play . . . will post if I do anything. AZD

I believe he is referring to Single Stock Futures. AZD

It seems that many out here are interested in short-term options plays. I have started this thread so that trades related to short-term events (i.e. earnings, FDA announcements, FED meetings, litigation, etc.) can be easy accessed rather than searching through 100s of other threads. So post...

LOL. When I said, "matching all the variables as closely as possible," it was kind of implied to test it out at a lower qty, perhaps 1 contract. AZD

Of course, with all this time elapsed, the bug, if it ends up being a bug, might have been fixed/patched since it was brought to their attention. AZD

Being someone with a background in IT (among other things), I also vote to attempt to replicate the incident in a real account, matching all the variables as closely as possible. Interesting how some out here defend IB to the point of being irrational. AZD

LOL, sorry for the scare. Actually, with the movement so far (+9) you might do quite well. I didn't read the statement with fine print, but I don't think they issued guidance yet, did they? CC at 2:00 PM Pacific, so let's see what they say. And the 3.15 would be absolute worst case...

Make that 3.15 risk!

Eliot, I have a real bad feeling doing this type of trade with equities before an earnings announcement. With an index, it seems safer. With an equity, 1.85 doesn't seem to be enough to compensate for the 8.15 risk. I hope it works out for you though! AZD

Yes, Fridays (expiration) are a notoriously bad time to be speculating in the market. Other bad days are Thursdays, Wednesdays, Tuesdays, and Mondays - - - to paraphrase a great writer. :D AZD

Yes, that SPX settlement is very tricky. The "safer" choice is the OEX. For example, right now, with about 50 minutes to go, there is a bid for the 695 puts (and more for the 700 puts) with the OEX at 705. You want to take the chance that the OEX won't fall 1.5% more in that time? If...

This strategy is much "safer" when done with the indices. I have picked up a few dollars here and there with the OEX. But, it is somewhat risky - a strong move in the final minutes will put you underwater fast. You have to ask yourself if it is worth it to risk A LOT to make a little...

GOOG is around 647. It's surprising how well it has held up with the S & P down heavily. If the overall market recovers today, GOOG might blast past 650. Disclaimer: This is NOT a recommendation. :D AZD

Yesterday, I opened up an iron butterfly (B 630P S640P S640C B650C) for close to 9, thinking that GOOG would not move too much, or if it did, it would be backing and filling close to the short strikes. I was okay with the risk/reward of 1 vs. 9. Don't ask how many contracts. LOL In...

I was curious, and looked at the commission schedule: Canadian and American Exchanges Option Price Commission / Contract $0 - $1 $35 + $1.00 $1.01 - $2 $35 + $1.50 $2.01 - $3 $35 + $2.00 $3.01 - $4 $35 + $2.50 $4.01 - $5 $35 + $3.00 $5.01 and over $35 + $3.50 Forex, do you...

If you are very risk averse, fooling around with vega on something like LDK might not be the best thing. The IV is high for a reason. But, with that said - and this is NOT a recommendation, you could do something like a put (or call) ratio spread - i. e. buy 1 45 put, sell 2 40 puts. Or go...