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Hedge funds, for the most part, are not subject to SEC regulation. I think there were suspicions of fraud which was why a complaint was raised. But hedge funds still can operate outside government regulation thanks to the exceptions listed in the SEC laws and statutes.

George Fontanills and Larry McMillian proved you can start out making decent money trading options and turn that into a million dollar fortune by writing books and giving seminars and selling worthless trading signals.

Hedge Funds are private entities and are not required to hand over any of their detailed trading accounting to you as a prospective investor. You can ask for financials but they will most likely be generalize financials of the financial state of the management company. However you will never...

Lenny Dykstra.... very famous!

Guys, I told you what it is, it is two short butterflys that partially overlap on the strikes. The left and right sides are FLY risk graphs and the middle formation is due to the FLYs overlapping in the strikes. If you dont believe me put two apart FLYS on a risk graph and move the strikes...

Two short butterflys that partially overlap.

Bought the book and read it but only made $565,000, not the $1.9 million promised in the title so I returned the book back to the store. Not worth it.

Please be careful answering when you are unsure as you provide a answer that is 100% wrong. As many posters indicated here it appears to be LAST TRADE. Illiquidity or lack of buyers or sellers is not a reason for put/call parity or option arbitrage rules to get thrown out the window. :)

Sorry I could not see what post of mine you replied to as I put myself on ignore.

Ratings are about as useless as your posts so we just ignore them.

A covered call can be ITM too. You can create the same ITM short put by selecting the appropriate strike to set up a covered call.

Start with $3 million and you will be there in no time.

"We"?? As in sex, are you counting both your left and right hands?

Its akin to a crack whore asking a guy with 6 weeks to live to wear a condom before blowing him.... what's the point?

Dude, if it is over your head, then you are not tall enough to get on this ride.

If you are not going trade the cross variance that can get skewed on those spreads using the futures and certain SPX swaps, then you both are just gong to end up back to the negative expectancy usually that occurs as a result of trying to mine out the weak gamma. This is the problem with...

That is a key point to be made is that it existed during VIX 10-18 range. Most traders who kept on doing ICs from late 2007 into 2010 without understanding the changed vol environment probably did not do well by simply blindly putting them on without consideration that circumstances changed and...

The point is that there is nothing wrong really with any strategy, they all work under the right circumstances if recognized by the trader and used accordingly. The main problem with Iron Condors is that most traders simply slap them on month to month without any regard to the market...

No I think the way to read it is playing blackjack is a negative expectancy, then dealing is positive (i.e. being the house/casino who does make mone from Blackjack). However with option strats it does not work this way. A single strategy cannot have a neg expectancy alone otherwise doing...

There is nothing wrong with Iron Condors. They are an option strategy. The problem is that they are often used by inexperienced option traders incorrectly or are touted by websites/newsletter authors who know even less as a low risk easy way to make monthly income. It seems like they...