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First the site would warn you, then freeze your account for a week, then take your money and ban you. We weren't too worried about the IP address thing, as far as I can remember. We only had about 5 accounts up and running. We were running them on 1 computer in Chicago, 2 in Panama, and 1 in...

True story, I was involved with a group of people that tried. We had about 3 programmers and a professional poker player working on the project full time. Any poker client bot will recognize the cards by the picture, since there is no data dissemination. Therefore the bot needs to run on your...

Yes, and... What? Absolutely not. Flash trading is nothing more than prearranged trading by another name. Both the flasher (the customer benefits if voluntary, and the broker almost always benefits) and flashees are benefitting at the detriment of every market participant not involved. The...

Nonsense. Flash orders are alive and well. The CBOE, ISE, along with quite a few dark pools still use private flash messages to give their users or members an advantage over those not engaging in the flash info exchange. The flash messages can only be used by sophisticated computers. It is...

falconview, It sounds like you are mostly trading OTM options, so the OEX american exercise shouldn't be a problem. However, I would still suggest you swith to using XEO options rather than OEX. XEO is simply the european version of the sp100 options. Or just trade the SPX options, which are...

Are any of you familiar with Steidlmeyer's cap flow software? It creates the MP charts, plus a few other cute little indicators. I had a meeting with Pete's cap flow software people not too long ago. I was going to update the 8 bit and 16 bit ancient code that they use so as to automate and...

Anyone that marries their trading success to one trade will eventually fail. The long gamma traders will lose slowly and quietly over time, with a chance of hitting it big every now and again. The short gamma traders will make money in most months, often believing they are the smartest guys in...

I think I understand what you are saying, but your communication skills are...um...lacking. You are basically asking if the payoff goes to $1 at the moment the underlying crosses the threshold (American), or if the underlying must be above the threshold at a agreed upon time to get paid that...

Ok, I'm curious. How might one do this? If we could do away with flash quotes and internalization we'd be much better off. Bonus points to equally regulate dark pools as exchanges.

Except that TJ is delusional, and armed with half truths. He claimed to be able to give the option value without knowing the time to expiration--not possible. Reverse crunching BSM formulas is part of what most models do. It is far from unique, or patentable.

No, you can't.

I love your attitude Larry. There is no shame in wanting financial stability, without aspiring to build a four story gold pile, a la scrooge-mcduck. The path to extreme money and power is fraught with many ego-traps. An out of control ego has kept many otherwise successful people from...

Not true at all. Besides there aren't really any more pit traders around. It is the brokerage companies that have trading wings (Goldman, IB, Knight, etc...) or relationships with trading companies (Etrade with Citidel for instance) or the companies that operate dark pools (such as Knight and...

I would suggest that your logical and creative reasoning is probably more important your recommendation. I am not a bond expert, nor a company valuation expert. However, BP 1 year paper just went to 10.5% yield with 6 year BP paper at 6%. Pimco very publicly bought the 10.5% yield, calling...

The HFT article you posted is by no means light reading, but is well worth it. Thanks a ton for linking that. I very much enjoyed it! HFT companies have become a powerful force in the business, making it very difficult to publicly speak out against the specific market structural issues that...

Isn't this the ISE ratio, or whatever? It is very possible that this is what the commentator was talking about. I wouldn't agree with the commentators conclusions if he was discussing the ISE ration though. It is a fickle indicator at best. Most talking heads on CNBC are clueless. They are...

This is a very interesting question. It is possible to back out an implied distribution of underlying prices at expiration, given the IV's of the full strip of options within an expiration. This guy probably created an implied distribution from the IV's and saw that 63% of the implied...

A bit off topic, but what republican can compete with silver-tongued Obama? Main street is pissed at Wallstreet and at DC. Regardless, I don't think Obama will be going into the next election as an underdog. The democrats will get slaughtered in the house though. That will work out well, as...

The EV calculation is incorrect. magic423 has posted the same thread 3 times. Methinks the OP is a spammer/scammer. In another identical thread, he posted a "paper" signed Kevin Butler at the end. There is a Kevin Butler that scams naive targets into giving him money for his power spike...