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I dont see much of a hedge anywhere.... Looks like you're long some at the money options which are somewhat delta neutral with the stock at 64 ish. All that means is you need the stock to move otherwise you're going to get buried on theta. What are the actual positions in the options you have...

If you're not trading the underlying the the gamma is not helpful and the call and put of the same strike same month have basically the same exact gamm and theta, oh and they're always 100% inline with each other as far as the correct premium.

Look at something that trades with a huge volatility skew, for example the SPX. You'll find plenty of days when the index is up and the out of the money calls are down or days when the puts significantly out perform their delta.

PohPoh ... I just take the posts on ET with a huge grain of salt since there are no track records here and people feel empowered by the anonymity of the internet. They're just opinions here and its really just entertainment.

“Even a blind squirrel finds a nut once in a while” is always a good cliché but I don’t think either applies in this case.

Thats a good point, the retail investors probably wont know enough to exercise their puts but you can bet the firm guys and the MM's will can the exercise on their calls and do the puts.

Thats the OCC's position on things but if you're long those calls you'd have better told your clearing firm not to exercise them. Otherwise you're long stock from a lot higher then where its trading and rest assured that most of the people long those puts are going to exercise them.

The stocks trading on and ECN lower then those call strikes those calls are worthless. Why would you exercise them at 90, 95 or 100 if you can buy the stock in the low 80's? hate to be short puts in that pig

Guys that dont need the money anymore and want to get into public service

Why would anyone even care about the bogus crap people post about their PnL here? Unless they're opening their actual books to you forget what they say its a joke. Someone said it earlier divide by a factor of at least 10. When you get right down to it why in the world would someone...

NSD LOL thats funny you have quite an active imagination

Just for the record today is a quadruple witching day there are not more triple ones. Just for all you savvy professionals out there LOL

More like a firm has some good info. The thing about it these days there are virtually NO "locals" left and all the prices the mm's spit out are controlled by their management and fed to them or just disseminated from off the floor electronically. I would say that market makers dont do any...

Panzer that’s not quite correct the price could have gone up with no volume simply because there was an IV increase in other series in that month or a general rise in the IV on all series. No one has to buy that series in particular for it to go up. If that particular strike (both the call...

LOL good one

Yea on Mars

jezz Austin you're downright insightful and reasonable yet polite too. I have found that almost unheard of here on ET and the internet web boards. I am 43 also, but I would like to see the prosperity continue for more then 40's years. I also think the fall out will come and go before 40...

You failed to add back the billions in IPO's and splits and the huge number of new products in the form of equity based ETF's. Not to mention the "global market place" which now exists that makes it easier to invest in markets outside the US.

Well said austin... I agree. The other side of the coin and on the internet in general, is thats its so easy to sit back in the anonymity of the vast internet and take a pot shot at people a day after the Fed makes a move. Sure its easy to say everyone else must have lost money and they made...

Have to agree with commie and insane here. "options as a strategic investment" is about the best but its not an easy read by any means. the flip side is there is a good reason its been around for over 20 years and is kept current... its simply one of the best.