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Good luck A, you know I'm rooting for you! It's difficult not to second guess one's decisions, especially after you see a move like Thursday's. Coulda Woulda Shoulda, hindsight is 20/20 etc. Fingers crossed. You have the skills to turn this around.

Yes, you are essentially correct: The OCC randomly selects clearing firm for assignment notice. The clearing firm then randomly selects individual account for assignment.

I was being partly facetious and partly serious :) You have inadvertently reinforced the point though. Your question can be answered by going to the relevant website and seeing the trading hours under the product specifications. Index products have different specs. Check them out...

Congratulations on your fantastic results Piccon! Probably just me but I find it wise to be humble in the face of good fortune and acknowledge the role of luck and Lady Fortuna in achieving it :) (I still remember this... :eek: ) :D

I still haven't read it yet (Sorry Phil), but I believe Mr.Budwick's book covers some of these concepts? Someone can confirm or deny. Not sure if it looks at it from a gamma scalping perspective though. Agree, trading this concept as the position outright rather than as a hedge is a viable...

IB software is getting better. Plenty of excellent third-party front ends to overcome native deficiencies in charting and day trading etc. The same though, cannot yet be said for option trading. IB's option trader is in the dark ages from a usability, order entry and analysis point of...

On SPX, the margin required for a 1 lot 1150/1140 credit spread is $10 regardless of how far away the underlying is i.e. your $10 will be tied up until the spread is released. On ES, for a comparable spread, the margin will be somewhat lower and is calculated based on how much risk the...

All contract information and product specifications are readily available online at respective exchange websites. Call me crazy, but I would have to say that it's probably a good idea to know what you're trading before you get into a position no? Probably just me :D

I probably need to rewrite these to make them clearer: http://www.elitetrader.com/vb/showthread.php?s=&postid=971374#post971374 http://www.elitetrader.com/vb/showthread.php?s=&postid=1095103#post1095103 Double pay day = "Convergence gains"

The strategies I use depend on the day of the week and what I've had for breakfast! Yes I have, hence my tattoo from the stove and lesson learned! Yikes! I have a life you know :D Lol.

Yes, Taleb has a good analogy for this: "It is a platitude that children learn only from their own mistakes; they will cease to touch a burning stove only when they are themselves burned; no possible warning by others can lead to developing the smallest form of cautiousness..." It's rare for...

Brutal. Bad luck.

The God of TA has abandoned all ye who entered the cult of Support/Resistance Overbought/Oversold indicators. It's mass suicide time. Hand out the Kool-aid :D Those who rolled last month's PUT credit spreads to this month....are now even further in the doo-da! Will ye be tempted to do the...

No, Pregnant fly - iron/siamese/natural or otherwise. Example dissection showing embedded baby flies.

:eek: Well, bit of a sell-off after my post LOL. Perhaps I can become as reliable a fade as Phil's partial hedges? Hmm.... What would I do in your position? I would stick to the plan, whatever it was. I don't know how large the position is relative to portfolio and what other positions you...

Why do you want to do anything? :confused:

Have no idea what the question is, if my post above doesn't answer it, let me know!

Purely to keep it clean, where there is the possibility of having DITM short options, I would stick to European exercise products: XEO,XSP,SPX. My disdain for SPX is purely personal but there are other valid reasons not to use it for iron flies that have been mentioned by others. Also like...

I like these pregnant flies a lot, but not on the SPX. Also, my preference is to open <30 days out (however, the farther out, the cheaper the fly) and close/roll in last 5 days to expiration...but it all depends on your price action/volatility forecasts and personal style. I shoot for...

I believe when PUT options were first introduced they were "exotic". Many facets such as the payoff and the "bet" nature of some exotics make them somewhat more comprehensible to the retail market than vanilla options. Then again, the less transparent features such as hedge parameters...