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"Were you finding mis-priced options?" "We're you taking other side of someone's trade when you felt they were mis-pricing?" 98% of the time, if you were lifting my offer, or hitting my bid, by definition you were mispriced. The other 2% of the time, I was about to get run over, but didn't...

"This is a phenomenon of stocks. As more news comes out and the market processes this news people get more anxious and start buying up significantly more insurance on their positions. This drives up IV." No, it's simple mathematics and understanding the granularity behind reverse engineering...

"You are saying theta will generally outweight[sic]" Offset. To the extent is a conversation in itself. Nonetheless, to present a strategy and ignore its cost is irresponsible.

All those words, and never the word Theta. ...and the guys that write that research, traders there ignore.

For a noob here, Surf wouldn't happen to be an ex-NYMEX trader? Although I don't think he would argue with words. That dude was built like a fridge.

"In fact, with... long enough time-span, it is very predictable." @ Ahmarix... Reading this thread, what I'm most surprised with is that you agreed with this. A clear violation of financial mathematics.

I'll agree on the keeping it simple. Price is a very bizarre and complicated topic. It is what fascinates me most about markets, and unfortunately something that is barely taught, and what is taught is done so by people too incompetent to understand it. The market is no more than an equilibrium...

What I said is that price is not purely random. Price's purpose is to tell people things. If you refuse to listen to it, it will even get pissy and scream. One must remember there are many other markets than equities. As for Apple I don't know what it is saying, I just know I have on countless...

Price moves definitely are not purely random. Price is a language, it is the markets only voice. Sometimes if you listen carefully...she whispers..

'cept you don't own the stock there. Seems everyone either conveniently/ignorantly misses that. If it gets worse, someone puts it to you (Awesome), if it gets better - you get nothing (Awesome). That's what you gave up selling that big fat premium. You are at the price you wanted the stock and...

Neither luck nor skill. It never happened, because I always owned them. So I'll go with discipline. It is impossible and a waste of time to attempt to impress on people the foolishness of selling those things. Total waste of time. People cannot see extremes. It's hardwired into our lizard...

"Don’t even mention trump lol" Hillary Clinton. Worlds best Cattle Futures trader. Argument over. USA wins!! Again!! ...and don't call us dumb, instead be thankful that we let you Brits secede and even gave you a little island or two to play on. Although, sorry about the weather.

"Can you share some details of what the awful awful thing that actually happens is" Taowave said it well, you risk so much to gain so little. The risk is not about going in the money 5% of the time. The risk is how severely in the money it can go, and when they go against you, you get hit...

"struggling to make the switch from underlying to options" I'd recommend not to approach options thinking of it as OCO, but as additive.

a.k.a. The 1st day of fighting during Gulf War 1.

"Is this concept true for skew as well?" If it is in the same month, as per your example, then no. If it is in different months, it would be conceptually applicable, but trickier.

"options are definitely not easier than equities at least for new traders" Or experienced ones. Options are infinitely more complicated.

"I think he means via VXX." That would make it an incredibly weird question (weird is my polite word).

No

Do you still have initial + maintenance with futures options? I might be the worst person to ask this of as: 1- It's been a heck of a long time since I've traded; 2- When I did, everything was cross margined, and meeting margin requirements was never an issue that involved me. I find it...