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riskfree-- you've never made a mistake? Give Mark a break. In the next post on that thread, he humbly admits that he was wrong, which tells me that he is a pretty good guy, and probably does very well trading to boot. I've read every single post that Mark has made on the SPX credit...

....quoting dmo.... The other side? You mean if you start out delta neutral and short gammas? I would just call that being short premium. In that case you'd want to lose the scalping bit, because negative gammas means every time the underlying moves your deltas move against you and you lose...

dmo-- Your explanation of skew makes total sense to me. Excellent job. I think the reasons for the skew are obvious. The market has dropped 10% or more in less than a week quite a few times, but rises more slowly than it falls. Most people are long stock and worried about crashes so they...

The last trading day for most of these index contracts (SPX, IWM, RUT, NDX, and others) is the third Thursday of each trading month, one day before stock options expire. The August contract's last trading opportunity is on the 14th (tomorrow) at 4:30 PM EST, although I don't recommend that...

MTE is right. The opening print may also differ slightly from the opening price for the index since it is calculated using a different protocol. The expiration price is displayed on the CBOE website as the "SET". If you have a OTM position written in SPX options and they are reasonably close...

Finding the delta of a spread is as you suggest. Simply subtract one delta from the other. Many brokers will also give you a portfolio delta so that you could hedge your entire position using index options. They would be easier to implement since you wouldn't need to buy puts on every option...

BHAM_TRADER How about an update. How did July go for you?? I had to make a couple of adjustments, but came out quite nicely in the end.

Yucca, I'm following your posts with interest and enjoying your commentary. It's obvious you are using options to implement your views of the market without taking excessive risks. As you well know by now, with a very diversified portfolio concentrated in a few well chosen sectors, you can...

Why go ultra small and hard to see? Charting and navigating on a Blackberry, or other phone with 3G is a problem with those micro screens. Just get an aircard and use a notebook. In the US, it's relatively cheap and works in most places that aren't too isolated. When you do that, then you...

I have noticed that no one here has referred to NDX. I have found that it is fairly easy to filled at 5-10 cents off the mid. I don't have too much problem getting executed within a few minutes, usually less than 2, and I usually do between 5 and 10 contracts at a time. I don't think there...

BHAM_ Your chart of RUT is superb. How do you set it up to show July and August 0f 2008? I have TOS which has PROPHET charts, so I'd like to be able to set it up that way. By the way I trade IC's, too but less aggressively-- I like to make 5-10% in a month, and possibly trade out early...

I laughed so hard that I cried when I saw the swan picture!!!