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When he said "$3 credit"...I think he really means .03 credit.

The way I deal with having to put up with people I feel are weak, is to just own stocks/options that take advantage of weakness. Ever walk into a casino and see these losers throwing their money away? I used to be annoyed by it, but now I just think of my position in LVS. If you don't like...

Selling a put naked leaves you with unlimited (till the stock hits 0) downside. Think of it as an obligation to buy the underlying stock at the strike price you sell the put at. If the stock goes to 0 and you sold a put with a strike of 20, you will be out that 20 (or $2,000 per put contract)...

It's really funny when you open that article and right there in the upper-left you see the tagline "Ignore us at your own risk"

nec, If you really wanted to do this, you could simply buy 1 deep-in-the-money AUG call option on SPY, which I'm not necessarily saying is a good idea...but it's a simple trade that would closely mimic owning 100 shares of SPY (roughly 15k worth). This would get you up through Aug 17th, when...

Hopefully we'll see a bear market and they'll be forced to make Claman and Burnett do the news in the nude.

.92 on $5.41 Billion

Are you Al Gore!? I'm being super cereal! http://en.wikipedia.org/wiki/Manbearpig

Yeah, it seems like it could be decent as a quick play on IV...with everyone calling for a massive move in one direction or the other tomorrow, I'd take the .30 in risk for a cheap contrarian trade...

It could be an ok way to play earnings, perhaps in concert with another position thats gamma positive. If you're just risking .30, figure that you'll make at least that much in profit by tomorrow if AMZN stays in the 70 - 75 range, since you'll benefit from an IV crush.

As for AMZN, I just went long the AUG 70 / 67.5 Put vertical for 1.00...just because I think that if there's a drop, it will easily go to at least 67.5. I figure a vert is a good way to play it with high IV options into earnings...while I'm paying a lot for the 70, at least I can sell an...

What I really want more than anything is a pullback toward 13,000...because I just want to see if CNBC will put up a flashing banner saying that we're approaching 13k, from the north side. Hmmm, I wonder if they would do that? Sure, it wouldn't be any kind of record, but it's still a round...

Awesome thread. Any Dow predictions for today?

Again, what is neke's net worth?

Very true. And to add to this a bit, we can't assume that the account neke is trading on constitutes his entire net worth. How do we know that he doesn't have millions of dollars tied up in other things? If that were true, the risks he is taking would be completely acceptable. In order to...

Actually if you're saving/investing $800 per month on a 60k salary, that's not bad. That's over 15% of your gross. A lot better than the vast majority of America. Besides, it sounds like you probably have the potential to greatly increase your income in the next few years, depending on what...

Isn't that the ad that has the clever and endearing tagline: "People Are Smart!" I hate that. Um no, people are not smart. People are tards. What percent of the population doesn't know what year the 9/11 attacks happened in? And what percent takes their weekly paycheck and blows it on "just...

Why not sell a more expensive front-month straddle or strangle and hedge longer-term?

Yeah, last night on Fast Money they had this hedge fund manager named Fleckenstein call in...it was really funny because he was bashing, on the air, how CNBC does that all day with the stupid alerts on where the Dow is at...and how it's obviously just meaningless information that is not real...

Yes, there are ways to try and piggy-back on these insider trades. See the Najarian's optionmonster site. That's what they are trying to do. They look for big-block volume surges, along with a transaction happening on the ask (implying someone big just wants in, without bargaining for a good...