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there are lots of small prop firms out there trading power swaps, but i don't know of any that will just let you come in with your own money to leverage through them. it does seem like a logical partnership, though. the $10mm for cleared products is no longer required though. you can get...

sorry, i'm new. most of the people i've come across on here seem actually gullible enough to believe that.

not really, Jonny was long and had much more upside to his trade. he wouldn't have lost near as much as what Brian did had it stayed flat or gone the other way

how is what he did unethical??? unless you know something i don't...

hahaha, right... there are people on ET who make 750mm??? if you believe that then i've got some ocean front property in Arizona I'd like to sell you

you really are clueless

scoreboard: Arnold - $3b guy posting on "elitetrader" - ???

Enron was full of whiz kids. In fact, just about every fund, trading floor, utility out there right now is run by an ex-Enron employee. and Arnold was the best of all of them dude was brilliant

are you talking about Arnold? i was just responding to the comment the guy made about Vegas. i hate it when people say that trading is just like going to Vegas.

how so? energy is a completely different animal than equities

some people are the one's gambling and then there are some people who are the house.

he put on very few trades, but when he did they were extremely large and aggressive. he made a huge bet to go long right before Katrina and that's where the legend first really started grow there's a lot of Dodd-Frank type pressure on energy company's to be more transparent about their...

ok, that's what i thought he was talking about. this defeats the purpose of the spread, though. why not just wait until a significant where you think a reversal is significant and then purchase play it that way? by buying the straddle and waiting for the move you risk losing the premium...

cause i'm at work. i'm still a little confused though. can you explain more by what you mean by these "wings"? when i think of a basic straddle i think of a long call and a long put of the same strike. do you mean that when the call goes in the money you sell it and then wait for the...

the concern we had was not that these strategies could not be profitable. it was that you stressed several times that they had NO RISK. if anyone ever tells you that you can make a 20%+ return with NO RISK then run away as fast as you can. haha

i'll let some of the more experienced guys on here explain some of the more advanced theory in calculating these options. but for one thing, the value of your long options decrease in value every day due to theta. the QQQ might move 5 strikes every 20 days, but unless it does this the very next...

well, if you're just buying a straddle or a strangle then the risk is the premium you pay for the long options.

yes, we specialize in electricity financial swaps, primarily the PJM West Hub product.

i don't understand what you mean by, "no risk" what straddle or strangle strategy has zero risk?

just realized you asked what would happen and not what would you do. i'd imagine your short call would expire worthless and your long back month call would lose half it's value.