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I think he meant "Iron Corndog". :cool:

Wasn't me. That was taken directly off the CBOE page. Most brokers probably use the same .01 ITM threshhold as the CBOE. The comment about brokers using a different value might be old. IIRC they started auto-exercise at .25, then moved it to .05 and now it's at .01.

Have you checked the correlation between RUT and NDX? Today NDX is up .36 while RUT is down 1.70. I haven't checked into it, and it's only one data point (could be the AAPL effect on the NDX today). Do you have any numbers? Almost everything seems highly correlated these days.

I must have missed it. It sounded like you thought the owner of an option had to take some action in order to exercise. ETA: You need to take action if you are in the money and you don't want to exercise.

What is "automatic exercise" of an option? The Options Clearing Corporation has provisions for the automatic exercise of certain in-the-money options at expiration, a procedure also referred to as "exercise by exception." Generally, OCC will automatically exercise any expiring equity call or...

Looks like a typo or C&P error if you check the prices.

Howard you should really have a better understanding of what you own, for your own protection. As mentioned, you don't want to be unexpectedly long or short a stock and be subject to gap risk over the weekend. Here is a link to a CBOE page that explains certain aspects of expiration, exercise...

What paper trading system are you using? Maybe it's a "feature" (bug) of their paper trading software. Did you use a market order? For real trades I think you should be able to notify your broker not to exercise. This usually comes into play if you are right at the money at the close.

Don't they trade on Thursday 4/21?

I don't know what the OP bought, but the yahoo page says they expire on 4/20. Edit: Probably Yahoo is messed up.

Actually the May IV probably won't crash much. The APR4 vols are around 60 today (were in the mid-50s yesterday before S&P downgraded the US), I think 30 is probably about normal for Apple.

As I recall most of it went to increased "defense" spending. He basically drove the Soviet Union into bankruptcy trying to keep up with Star Wars and the like. It only took us an additional 15-20 years or so to follow on, depending on where you mark the bankruptcy of the US. Hank Paulson's "Give...

Since you already own the stock you could collar it, buy puts to protect the downside and sell calls to pay for the puts. You would be giving up the upside potential. If it really tanks you can sell the puts and buy more stock.

Did you ask them for their results? I did a few years ago and it wasn't very impressive.

Yes, the Fed and especially Greenscam effectively gutted G-S even before Gramm-Leach-Bliley. Why can't we find any adults to run the country these days?

In my view a trading journal should be more like 1. Post a trade you open in real time, or even before, maybe with some reasoning behind it. 2. Post any adjustments along the way. 3. Post the results after you close, maybe with some postmortem analysis.

I'll just link to the article at Market Ticker: http://market-ticker.org/akcs-www?post=184237

Falcon, what are you using? You probably mentioned it many pages back . . . Anyone know if Thinkorswim paperMoney is anything like real trading?

What is your risk management strategy? I am seriously thinking about doing this. So far my risk management consists of trailing stops (cut your losses short and let your winners run), and far OTM long strangles (basically a double diagonal, black swan event). I am open to any other risk...

I've never checked into E-minis before. I just had a position filled on TOS paperMoney and went in to enter a trailstop and that choice is not listed. The only thing there is limit order (not even market order). I feebly tried the search function but didn't see anything meaningful right away...