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Not certain. Maybe I just didn't' know how to trade. :p

"Exactly! If your stops are getting hit you don't know how to trade. " You do realize that comment is moronic?

That looks all pretty and stuff, but attempting to model those wings with such a short term to expry is making a huge giant mess of the most relevant strikes. Obviously something is wrong with that 50-55 which a quote can tighten up, and everything looks wrong in the atm'ish strikes (again too...

You need to watch more movies.

:D... one better...Read CRR, and never read Hull :cool:

I hate sayin this, but this was back in '90. No one knew from Hull.

"...So don't unscrew people heads, sh!t on the swamp they have for brains and copiously wipe your money-maker with their faces next time -" That, my friend, is poetry. He's quoting Walt Whitman. ...and is that the bulls right leg, or is he utilizing foreshadowing by doin to the bear what he...

Then, you need to take the dividend out.

If I were running a fund that was up 25%+ entering Dec, I'd be buying puts out the wazoo as well, with no consideration for the fund, but to guarantee my piece for '19. Next year, who gives a f&*!.

No correct answer to this, but you are. Overhedging your positive gamma is a good way to never make money. Take your model and sim hedging every few ticks and you will see the extraordinary amount of hedges you have to do in a day just to make back your theta. Almost impossible. Now compare that...

That's a polite way of putting it.

Ouch, bad memories. I still have an old red notebook filled with notes solely pertaining to that book. I went page by page, formula by formula dissecting it. In retrospect I'd say it contributed $0.00 to my P+L.

Did they adjust the strikes of the future months as well? ...and have to ask... If you exercise a 2.00 call, do you get 2's or the adjusted 1.90's - I'm assuming 2's.

1- No, not normal, but they are options, you can structure them any which way you want and then some, so normal is relative. It's as if they took out the need for an early exercise decision by the strike shift, but that has to do some super weird shit to the ATM stuff. A 2.86c vs 2.86 ain't...

A proverb finds its fool.

Those ain't blinkin' neon signs???

It is rational, as FSU stated, if you did that not having a computer to hide behind, someone would very likely punch you in the face. That's a fairly strong reaction to an action. ...and go make a freakin two sided market for someone. Then have someone wait for you to give it, and cheese into...

"Back in the day where MM's all traded together in one pit, cutting someone's market by a tick could get you punched in the face. Definitely didn't go over well." Yep, you'd have a bad day. I also think you are mixing equities with options and I just don't see them the same way... A penny...

Awww... you ruined it for me. :( ...but now I have to ask. @traider, how many lots did you have on this offer@3.44? Please tell me what size an 'experienced' trader throws around.:D

That's not price improvement. That's a dickheaded offer, stepping inside of someones market by a freakin penny. Bad form. Terrible etiquette.