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Letting the days go by, let the water hold me down Letting the days go by, water flowing underground

You seem to have the mechanics down. The option prices are based on SPY = 131.30. If you bought at 131, then you should compare the $50 CC profit to the current $30 realizable profit. One other possible outcome is called pin risk. If SPY was trading at 120 (the call strike) at April...

A few mistakes there. The cost basis is 8690 less 8500 (strike value) = -190 loss. The option had 0 volume and OI was 1. No liquidity. Looking at the 44.10 last sale, we see it was a Jan. 24 trade. With SPY at 131.30 yahoo shows the current bid for the call at 46.30 or parity...

:D

Gotta love those ULs. I'd think that fills closer to mid-point would be realistic with those two.

Wouldn't that be ITM calls? There's still risk - not free money.

There have been times when SPY wasn't borrowable at IB. I wouldn't assume that any equity is always borrowable.

Yes it does make sense to trade the UL if you're not liking the spreads. Obviously, you can get a more favorable R:R by selling ITM puts. Some option traders would look to the equivalent OTM bull call spread rather than ITM puts.

:D Yes, I need one for quiet desperation and one for subdued euphoria.

"Neither cancel/modify fees nor execution credits are not applied to US Option combination orders." There seems to be an error. IB please clarify. Use of double negative implies that cancel fees are applied - when I believe that the writer meant the opposite. Should read: "Neither...

I know that you're supposed to control your emoticons while trading, but the past few weeks have been extraordinary - I would imagine for many traders - so here goes: :( :mad: :eek: :) :p :D :cool: :mad: :) :confused: Or how I turned a large loss into a large profit into a small profit...

So you are trading this week? :confused:

Wall Street insiders call that the "donnap limit."

Heh, heh, I think he means that you gotta move to Louisiana.:confused:

Nah, the risk free profit in the OP doesn't make sense. The B/As at the time were approx: 106C - 2.02x2.09 104P - 2.78x2.87 OP, don't know where you got your data from. If it's based on last sale then it probably won't have real time relevance.

Yes, good example. It would make sense that a well-defined binary event may produce a frown. Perhaps it is rare because many of these situations are not well-defined or truly binary.

At the very least, a 5 minute time out would be appropriate. Honestly.:p

"put protected stock" is the position referred to.

No, not exactly, unless you can forecast IV, exactly. I seldom use a calc when I do it's ivolatility.com basic calc. Change days to expiry, the UL price and viola. You can also change divs, IV and i rate if you wish.

Synthetic call or put diagonal. Profits in the middle and loses on the wings.