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A bit alarmist, it's not like they contribute much as a % of global capital...

Just to continue on in the educational vein. The Fly seems roughly delta neutral inside the upper strike. Is that correct? Does gamma play out in a similar fastion -- upper strike declining lower strikes increasing? If so, it's almost entirely the theta that improves this kind of position.

You are quite right. I corrected the above numbers. I -- sort of -- doubled the price on the 1250 to account for the 2 sold. However, I have corrected it to be the price for one contract. Thanks for pointing it out.

I decided to play along on the Fly trade... never done one before so this is dumb money looking for an education. Bought the March 1225/1250/1275 for $3.50 -- felt like I overpaid at the time but what else is new. The fill was interesting as I got a "discount" on the 1225 -- the one least...

Well I don't know about the gambler part. :D

Not sure I totally follow that as the Eurex contracts trade zilch for volume while the quotes are kept in line. But I'll take your word for it and wait and see.

I'm going to guess that the liquidity gets split and you end up with two less liquid contracts. The other possibility is that one of these contracts just gets no volume at all -- like what happened over at Eurex...

I actually disagree with this point. I think any industry with economies of scale will tend towards one or a few competitors. As this trend evinces itself, these competitors will use the political system to create additional barriers to any other entrants. It's a chicken and egg question but I...

Yes, That's essentially what the Mises article suggests as well with respect to the "red" states. It's basically an employment program/special interest payoff for areas of the country where there is chronic underemployment and lack of opportunity. Makes me think of that expensive Alaska...

http://news.yahoo.com/s/ap/20060212/ap_on_go_pr_wh/cheney_hunting_accident I wonder what this guy did? :eek:

Here is a link to help define what I am referring to with respect to net contributors vs net recipients: http://www.mises.org/fullstory.aspx?Id=1677 Your perspective on spending is too simplistic I think. There are many projects that it makes more sense for the states to manage but are...

Well, National defense? Roads that transport goods from state to state? Educational loans? Universities? etc... I don't see any of these as merely local in their impact.

Speaking from a blue state that is a net contributor to the Federal Government I'd be inclined to agree. :) However, it's too general -- no indication as to what that money is being spent on. No way to make an informed judgement.

Here's a version based on the original Communist Manifesto of Marx and Engels: An economic theory which stresses that the control of the means of producing economic goods in a society should reside in the hands of those who invest their labor for production. In its ideal form, social classes...

Sorry, this is a bit of a pet peeve. But I really dislike when people misuse terms or engage in meaningless rhetoric. So, first how about looking up the definition of communism before you use it in a sentence. You might be surprised at what it really means. Second, statements like "more...

Good Morning, Please let me do the work for you. :) First a general point about substitutes. We don't have any real substitutes for hospitals, drugs, or medical devices. I don't choose which stent I get or which antibiotic I take or which hospital I go to when I need urgent medical...

Competition only brings lower prices where collusion between competitors is not possible and there are substitutes available for goods. Markets need to be efficient for capitalism to work. Otherwise the system can be gamed. That's why we have terms like monopoly, oligopoly, cartel, barriers to...

Gotcha, Makes complete sense.

Many others argue that the BLS and company get the numbers wrong all the time. One of the implications of this is that inflation is actually much higher than people realize. The implications of that have been discussed many times. It's hard to have your cake and eat it too.

What does this mean? I am not seeing your argument at all.