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Yeah, he sounds pretty smart to me. I have done everything I could to help him, even offering to help him redeem his mortgage delinquency, but he doesn't want me to do this as he has told me it would only delay the inevitable. I see. What he told me tonight about particular...

Yes, but the strategy requires margin and so you need a margin account to trade it. That's how brokers make sure that you can cover losses without having to audit every account after every trade to make sure that there are sufficient funds to cover.:p Of course, brokers may have their...

Yes, the spread requires margin. If you were "legging in " in the order you described, initially the margin for the 2 naked calls would be greater than the spread margin. A similar debit spread should not require margin.

A little heroin is helpful, too.

Do those who posted on this thread actually believe this? This describes Obama, not Hitler. Y'all are so ignorant .

After a few thousand losses those lessons really begin to sink in.:p

You risk the ability to sleep at night.

Sounds like Slots-O'-Fun to me. Free popcorn, open air to the Strip - air conditioning blasting away. I think you can get Circus Circus fun books there. It is a fun little place.

I'd be selling calls on those cemetery plots. A win/win situation...sort of.:p

Hmm... I haven't used an options calculator for a while, but his numbers give a option price of about 2.00 or an IV of around 22 according to my calc. What parameters did you use to get 4.57?

Yeah, but you win the comedy award.

You never stop remediating.:D

LOL Spin. Thanks for bumping this one up. I was hoping it would just fade away. (oops, mia culpa) Shades of yahoo MBs or "you can lead a monkey to water...."

Yes, and it's not so much that your data was incorrect, it's just highly unlikely that it was tradable information. There's a difference between that data and attainable prices. You do realize that you are talking about the last 5-10 secs of RTH on expiry Friday. That's when GOOG jumped...

Ah... are you using yahoo quotes? You should have been using real time quotes. That quote isn't accurate.

OK, thanks xflat. I was thinking that the cost to borrow was higher.

No, you pay interest for borrowing stock. Call prices discount that. Last sale looks like .15 on TWS

LOL. That deserves to be a thread unto itself.:p

A funny thing happened to Spin on the road to not being a cynic. He became a cynic. Heh heh heh.

Hi dagnyt, It wasn't a suggestion. I was commenting on human nature. I was hoping OP would respond. I imagine that many, if not most, neophyte traders who experience initial success get greedy and raise the stakes. I know two traders who did this and gave it all back (of course)...