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Although he said it quite strongly, Maverick is right. It's not as secure income as it seems. Trust me. I know from experience. Fortunately it was with very small cash, doing 1 or 2 spreads here and there, following other people's advice to start small. If you do them on indexes and far...

Thanks marketsurfer for posing that. Torontoman

Are they useful? Thanks, Torontoman

The few traders I know that are very experienced told me "Never play biotechs! If you consistently play them, it's inevitable that you will lose alot, no matter what side you're on."

You're right!! But that other 2% will kill ya.

I have already done the leg work on this as I had the same problem. It's a legal issue. Canadian brokers MUST treat it as 2 separate spreads. HOWEVER, procedures are in the final stages and that soon (I don't know how soon) this may change. I have contacted the IDA, OSC etc. Contact...

Are you saying that his fund "collapsed" for lack of a better word?

Hi Nitro, Thanks for your message, but I did not understand as I am much less experienced than you, obviously. Are you saying I'm a fool because I should know that option sellers are obviously more advantaged OR that I should know that obviously that the odds are the same. Or can anyone...

I don't know how other traders feel, but a Friday night is no good for me. Any other time later than April 20 is good for me. But I am just one person, so don't change on account of me only. But it sounds like fun. Torontoman

Thanks for giving me that info. Torontoman

Does anyone know what happenned to his Empirica fund? Is it still operating? Torontoman

maverick, Have you read "the Way of the Turtle"? If so, do you recommend it?

Thanks!!

Dear Maverick (and others), I assume that you recommend the following books for option traders. 1. Fooled by Randomness 2. Option Volatility & Pricing: Advanced Trading Strategies and Techniques 3. The Black Swan (due out April 17) Any others? Thanks in advance

Are we saying that it is better to do credit spreads on the SPY instead of the SPX?

Is it better to leg into a credit spread OR enter the order as a credit spread if the comission is the same? Yesterday, I tried to get an spx credit spread. sell 10 spx 1440 calls bid/ask 5.4 / 6.2 buy 10 spx 1450 calls bid/ask 2.95 / 3.4 If we take the middle value, I would get a...

Thanks, MTE! I swallowed the loss.

On Friday, I tried to leg into a deep OTM SPX credit spread. I often do this with no problem. I tried to get an April 1290 short put 1275 long put credit spread. However on Friday, my broker had problems and it took forever to do a transcation. Result: I got the 1275 long put for 4.30, but...

Thanks for the advice.

Maverick, The past years, I've been reading your comments and have learned a lot and you have saved my ass many times. I admire your knowledge and experience. However, it seems that your comments are nuancing that there is no edge in any options strategy. I could be wrong, so I apologize...