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Yes, unless they are ITM quite a bit. Read all about Delta.

As you indicated, the return on margin (non span) is 5%. Can you comment on what this trade returns as compared to the account value and what your thoughts are on what is adequate risk for an account and what your annual goals are for your account? Thanks.

Phil, what is your mathematical expectancy? Surely it is better than .05*91500 + .95*4500 which equals a loss of more than $200 per trade.

I'd have to agree, for these people there is only one measure of success, a showing of wealth. You don't have to flaunt it, just show them it is there. With trading, you are either really really smart, or really really stupid in end. In other words, you either made money or you lost it all.

The u.s.'s assets and products are often intangibles. Granted much of our economy is service oriented on the domestic side but America's major exports are intellectual property, business skills/planning, software capabilities and technology research and development.

I'm surprised no one has brought up the fact that the Olympic Committee is asking China to float its currency before the games commence. I've heard China is actually working towards this. Do you really think China can continue to grow aggressively and not completely embrace a free market?

Is anyone familiar with the Stafford Day Trade System? http://www.staffordtrading.com/STCDaytrader11.pdf#search='Stafford%20Day%20Trade%20System'

Really? I find these to not work very well on the SP. The link pulls up a curve with 90 markets, is this after costs and does it include the sp?

Puts have lost about .55, good for you. I've done considerable gap research in the past. Most are filled within .3 daily atr's and then go their merry way from there. One of this magnitude will most likely just bounce initally. Remember x-friday in sep-01? That was one of the biggest...

C. so what is the plan, do you have exits or are you looking to buy at a discount?

If it bounces you'll do well.

I was referring to ACE.

Their performance is noticeably dropping every year.

A king county meeting would also interest me.

Do you have a picture of someone you have in mind? :)

P., it has been relatively difficult for me to find fx options traders. Eventually I will add fx to my cme trading and the little I have found out is size will not be a problem. A billion dollar trade can be laid on without affecting the market. As far as fx pricing in options, I think...

I agree it is strange. Not only are the vix/vxo rising along with the market but the market rising at a parabolic rate. It is somewhat strange but it could be a sign of traders being bearish at major psychological levels.

I'm going to be in the Bahamas in 2 weeks, any suggestions while being there? Any traders who enjoy getting together for coffee?

Good call for today db, looks like the sp put together a late day rally.

Volatility continues to be quite low with daily AverageTrueRange levels in the 12 point area or just over 1%. This is particularly hard on the es traders with only 4 data points to trade at per point. The U.S. markets seem to continue in their choppiness making it difficult for some...