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Being long inventory offset by puts lasting longer than 5 days would probably work for a very short while. Notwithstanding the fact that they would cost a lot of $ to maintain, it would still IMHO run contrary to the spirit of this interpretive letter which is that the SEC seeks to end the...

Specs can't initiate downticks so they don't have that edge. Nonetheless THIS BLOWS. I guess I am gonna have to turn in my membership papers to cotton this AM. Was on the fence until I heard this news.

I bet you someone from the ssf exchanges made the SEC aware of this loophole and alerted them to it. Suddenly the SSF's look golden since not only do they not have the PDT rule but no uptick rule as well.

Another edge bites the dust !

I just hope they don't start levying fines retroactive from the date of this action letter. Any comments from the pro firms?

Chaos. I am not kidding. I asked this guy, shows me the Blizzak snows he puts on around november, opens his trunk which has 2-3 bags of sandbags ( or was it cat litter? ) to put on more weight in the back. He says he loves it and would take car over any FWD. Momento, did you experience bad...

While we are on the subect of BMW's, would anyone care to comment on how they perform during the winter months. I am thinking of getting a pre-owned 5 series but am a little concerned since I live in a hilly area in N New Jersey. I've "interviewed" about 4-6 owners and am suprised at the...

Visited the "NYMEX 3 days ago, alot of AMEX traders migrated there as such it is a very competitive pit so as an off floor trader, if you can open an account that gives you floor flash fills, you should do ok in terms of putting on spreads that conincide with your outlook on the metal. Open...

You could neutralize vega by shorting butterflies. Maverick had tons of stuff about short flies, excellent posts about it too. However, bear in mind that for every order you put out there are people equally if not more sophisticated taking the other side of the trades so all things being equal...

Invesro RT has HV as an indicator and option specific packages or brokers would carry Iv. Here is a list. Use goggle for site names. thinkorswim optionstar optionvue microhedge optionmaster This should keep you busy for a while. goodlluck

But this spread assumes that you can put the fly in the front month for credit. Which is a huge assumption correct? Unless you are selling straddles and a week later buying the wings to get a good straddle price. Even when I was on the floor getting free flies is not a lay up! Am i missing...

You mean end bullets since they are doing away with the uptick/upbid rule or just get rid of them w/o repealing the uptick rule. HUGE DIFFERENCE!

zreg, what rules have changed? Thanks

I was on the floor so it was not a problem. However, if a trader can get floor access it is not an issue. Main thing that freaks people out especially the ones who are from the equities side is that there are no bids/offer/size quotes available electronically. All they see are last print so to...

Seth, I traded futures optons for 6 years and I find it more interesting that equities for the simple reason that the skew shifts dramatically depending on supply/demand outlook for the comm. Equities on the other hand seems to have identical skew profile . i.e. the put IV's step higher and the...

Why would you want to lean long delta when long vega and vice versa? Should you not be short vega/long delta OR long vega, short delta since vol usually pops on downdrafts and vol erodes on up moves (generally) since up moves are usually slower than downdrafts Would'nt that make the case...

mdc, check out the futures magazine article about pairs trading in stocks (Nov 03) which instead of putting on the stock pair will sell/buy the straddles based on relative IV between 2 stocks. Sorta like what you are referring too

So Vito will not even assume any leadership position? strange if not... What about Rob Keller?

lindq. Can't you short the stock, take delivery of the ssf to get the differential spread? There has got to be a mechanism to keep those in line

Oconnor, Millennium, Spike, Great Eastern.