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Thanks, Bone. Yep, I'm familiar with the implied spreads engines. I remember Watching that presentation that CME posted to their site when they first introduced it. Great stuff. Makes exchange listed spread liquidity completely accessible. Yes, def a great way to harness the electronic platform...

Bone, On that chart you posted on the June RBOB/Crude crack, what/how is the multiplier on that product spread? If memory serves me correct I think the only way I can get that off with an IB acct is via legging in. Gut tells me I may be asking for trouble with an execution like that regardless...

Whether it's a cost of carry or option greeks question... You are the man, Good Sir. Thanks for the response. Best, J-Law

I posted this to the NRG futures forum, but figured a thread in the options thread might garner more feed back, Just a random thought.... CLQ1 settled 113.02 In August crude options, two short put trades. One a OTM naked put, the other a closer to the money short put spread/ For the...

Just a random thought.... CLQ1 settled 113.02 In August crude options, two short put trades. One a OTM naked put, the other a closer to the money short put spread/ For the moment shelve a view on short term direction, but for the purposes of this post we are obviously bullish. What is...

What products are you trading ?

IB is pretty decent options on futures. You can trade a great many CME/CBOT/NYMEX/COMEX contracts with them. (ZS, ZC, ZW etc) OX commissions are too high & can make some strategies cost prohibitive.

DarkHorse, your point is a good one. The completely reflective nature of re-reading books like Market Wizards or others with "new eyes" is true. Perspectives become adjusted and reinforced with one's trading experiences. The 2nd take reads deeper into their stories. I was quick to discount...

You're expectations are too high....He was only just a Met.

Trading books that are a narrative like Market Wizards serve the purpose as a good inspirational read. They were great tales of how (guys & gal LBR excuse me) knocked the cover off the ball. But when you get down to it, will they help bring your trading to the next level? Or help you to fix...

Life is to short. A shame. Thought to the family. Such a loss. 56 years old.

Elitist trader....(if ur not joking and are serious)not possible with options & even a rough business to be in even in stock or futures w/ access to orderflow. You end up being the buyer in sell offs & in rallies watch your long inventory get gobbled up as everyone lifts your offer. All over a...

Nazz / Rodney thanks for chiming in. J-Law

That is SO strange. yes, I even checked them against futuresource website& July 91P delta is .0820. Who do you guys use as a 2nd source for greeks? J-Law PS IB option trader still showing that swelled Delta structure for July CL Puts even as I type now.

Noticing a difference in the deltas of the puts in crude, CLM1 91 Put series delta @ -.0329 CLN1 91 Put series delta @ -.2740 (Just -.960 yesterday) CLQ1 91 put series delta @ -.1125 The July is a higher delta, as all the strikes are all at higher deltas compared to their June & August...

"...but it quite literally takes luck to succeed in the long run..." All your points are valid & things to consider. But, show me any trading strategy or approach that isn't at the mercy of the above statement. Trading or any business pursuit for that matter is bound to this above...

Passarelli's text covers both types of delta neutral trades. Chapter 12. http://www.wiley.com/WileyCDA/WileyTitle/productCd-157660246X.html

Hmmmm... I not so quick to "fad" his strategy of short premium. Granted short straddles are not for the meek of heart. The key with short premium is to manage your risk & as another poster mentioned not get complacent. You would be surprised despite all the "Taleb Black swan crapping on your...

A year & half later...... I think their planning prep is probably paying a dividend. Crude has been moving.

There is def some new dynamic going on in crude. Whether the NYMEX contract is broken or not I do not know. I have often suspected that the citing of NYMEX exchange open interest figures not being able to support speculation in the market for the 2008 run to $140/barrel as a lame argument...