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...and on a cheaper underlying, too - maybe some cheap ETF with minimal counterparty risk (i.e., essentially guaranteed not to go to 0.) Figuring out your own risk appetite is an iterative process, but if you don't know what you're doing, then start small. As I recall someone saying, "you have...

Looks like MDT has recovered past your B/E. How do you feel about this trade now? :) I'm actually asking with a purpose - because at times like this is when the world looks all bright, new, and shiny, and you end up revising the story you've been telling yourself about how "it's going to crash"...

Again, you're missing perspective. By writing that put, you agreed to take a loss on either the put or the stock if it went against you - and once it drops by $20 or so, there's absolutely no difference. Whether you "shell out" the $20k or not, your losses will be exactly the same, $1 per point...

Effin' cowards. If they're not maxing out their student loans + stimmies on 0DTE FOTM Bitcoin calls, I don't even want to hear their whining. (This is how we improve the breed around here. Say, was that the sound of imploding accounts I just heard?... :sneaky::sneaky::sneaky:)

Since I used to wheel quite actively, I've been in your situation several times - and the meaningful answers come down to non-technical factors. That is, no one can help you decide; there's no "right" or "wrong" answer here, only what you think best. But I may be able to give you some directions...

No, I'm not mostly trading spreads - I was just explaining them (specifically, their risk-defined features) to @Overnight. I focus more on extracting alpha from vol... that may make me as deluded as he is, but I enjoy playing chess. :) (Nobody told me it was going to be 16-dimensional chess...

Well, this is why options premium and its changes are usually discussed at a per-share basis (so it would still be $0.50 rather than $50.) If you change the scale, yeah, it gets confusing. When people use the 100x multiplier, they're typically discussing (or boasting about :) ) their P&L, not...

Aside from the +1 settlement, you should review your understanding of how premium selling works. If you could simply withdraw it right after you sold it, then all you'd have to do is sell premium, grab the money, and walk away - leaving your broker with the problem of where the trade ends up...

Your understanding is... wildly incorrect. Delta defines the change in premium for a $1 move in the underlying in either direction. It does not mean "a gain of $50/loss >$50", and spread width has nothing to do with it. Market forces (supply and demand) define the price of an option, and by...

Thanks - Florida is just a bit wet this time of year...

Thanks; I appreciate it. Perhaps my Google-fu wasn't working all that well today.

I'm not quite as convinced of my brilliance as you are (or as I used to be); options, and the folks who truly understand them, have given me a measure of humility. Well, a small one, anyway. :) But I do understand being too exhausted to sleep - not a state to wish on anyone. Sleep well, my friend.

Actually, that was the first thing I did. No luck. Found some guy asking about "carpet bombing dividends" (by which he meant buying a stock just before ex-div and selling it right after... ho-hum, another brilliant discovery...), but nothing else. If you have a pointer or can explain, I'd...

Of course I am - you already knew that! :) And "that" was a listing of just some of the greeks (OK, plus their sensitivities and other things.) Different order greeks, too... the point being to have a fun way of scaring the hell out of people like you. Mission accomplished. :sneaky::D:finger...

Let me see... delta, gamma, theta, vega, rho, vanna, volga, vera, charm, color, speed, zomma, DvegaDtime, DdeltaDvol, DvegaDspot, convexity... NOPE, not coming up with "the monkey of carpet bombing." Is that yet another seventh-order partial derivative greek or something? :D

That's the utility of SPXW.X - always cash-settled in the P.M. No SET to wait for. :)

I don't do it myself, but I used to know a guy who bought options on 0DTE SPX (SPXW.X, to be exact.) I don't think his purpose was to "replace" futures trading, but I do know he was quite comfortable trading this instrument because he was very familiar with it. I'm not sure how you're "facing...

Additional twist: the death benefit payments to the families comprise 98% of the 2022 budget for them as of 08/24. Given the current average of 8132 dead soldiers per month, they're short by 271 billion rubles just to cover the rest of the year - and project 724.1 billion for 2023. The above doc...

Wait... is this the contrapositive of "you also had people that were very fine people, on both sides"? Or maybe "You breathe air; Hitler breathed air; therefore, you are Hitler" type 'thinking'? Hint: when the only thing in common between two complex situations that you're trying to equate is...