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Damn, you may be right. In Japan they sell used schoolgirl panties from vending machines. Look what is happening there now. :eek:

I didn't read J-Law's post as saying floor traders try to sell premium, just that they would know that a lot of options expire. Of course a market maker tries to hedge positions and stay neutral if they can't offload on the other end.

The P&G portfolio looks pretty good, but the $3 million minimum might be a barrier to some people.

Was the guy just selling puts or something with no stops or other protection? Also, was he compounding his gains? If he made millions he should have squirreled some of it away. That's what gets me about guys like Jesse Livermore. He made millions in the 20's and lost it all (IIRC two or three...

Thinkorswim virtual trading.

Damn! I put on 20 of these in paperMoney, closed out the short 575 put at 12 (from 11.20), and am up 1.32 already. Shoulda used real money. The margin requirement was pretty hefty. ETA: closed out for 1.90. It still would have been interesting to see how it would have performed if GOOG...

Is this free money? GOOG double diagonal for 21.90 credit 575 - April put (Monthly expires 4/16) 580 + April2 put (Weekly expires 4/9) 585 +April2 call (Weekly) 590 - April call (Monthly) TOS P/L chart shows minimum $120 profit at first expiration (i.e. today's close).

Good videos. Thanks for posting it. What happened to Dean?

I wish everyone would stop criticizing the Fed. Just shut up and eat your iPads.

Anyone know if the IRS ever made a decision on how to treat index ETFs like SPY and IWM?

Index options are reported on a different form. I don't recall the number, or whether you also need to put them on Sched D. Google is your friend. You should report your losses so you can carry them over to following years. One year I actually made $30 on a VIX spread but I didn't file the...

Start a corporation. Call it General Eclectic or something similar and pay zero taxes.

Actually the best answer would be don't ask for or take tax advice on a forum, get professional assistance.

And yet Yahoo and TOS both report the open on the 17th as the same as the close on the 16th. Still it was "only" a 2.7% difference from the open to the HOD on the 17th. Edit: The gap open seems to be reflected for both SPY and IWM, 142.10-to-145.50 and 76.75-to-79.21 respectively. Good...

You need to file a Sched D for every year you have closed any positions. The closed positions will show up as pure profit unless you provide the cost basis and the date you opened the positions. AFAIK (unless this has changed recently) brokers don't report options, but you are still responsible...

Yeah, now that you mention it but not having any money in the game I guess I forgot.And wasn't it only one or two years back, or was that an different announcement? I did get hosed in 2008, I was long SDS (2X short SPY) and the market was tanking nicely then all of a sudden it switched...

Doesn't the Fed usually announce while the market is open? What I am really looking for is how much protection does a stop order on index or index ETF options offer? In a regular stock there is the danger that your stop order will get executed the day after the CEO is led away in handcuffs or...

Any idea how SPX (or SPY) options work in that case? I recall having a position about 5 years ago and realizing the market was going to open lower. Sorry, it's all a bit fuzzy and I don't recall the underlying or the position, but I put an order in to close the night before and it got filled...

I downloaded SPX data from Yahoo to check for major gaps from the previous close to the next open. The 50 biggest ones, both up and down, occurred in the 1950s and there were only a few more than 2%. In those days a 5% move could be about a point or two. I'm sure anything is possible, but...

If they're providing bad data then you have to trade badly in order to get good results But all the data isn't bad, so you have to know when to trade badly. --> :p One nice thing is you can get the greeks with TOS, which I use to estimate if I would have gotten stopped out, or gapped out...