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The conversion was: XYZ $9.05 XYZ May 09 9 call bid $0.79 XYZ May 09 9 put ask $0.63 or .11 gross I doubt if it really existed. Sometimes certain exchanges' quotes freeze and the real market price is somewhere else. It'd likely be gone before it got that far out of whack.

I could play poker or the horses, but I lost my marbles.

Hi Don, I remember your non-dividend paying stock posts from the past. You would get blasted by the stock valuation gallery, but your posts made me think about that point of view. Looks like we've seen some validation over the past year. You can highlight a line or lines by left clicking...

This is fairly straight forward, but I've been there in regards to exchange explanations. 80 to 81 is a full point. $1000 per point. It may be helpful to use 320th with quotes. So 80.315 is 80 315/320 The next tick would be 81. 005/320 x 1000 = $15.625

:confused:

I scored a 27 and I don't care what any of you think about that. I'm perfectly happy sitting here all alone.

LOL, literally:p Thanks.

Right - rereading OP's Q. your answer is a good one. That's what I get for posting during RTH.:p The cost of holding the position should be considered and in a higher interest rate environment it would be a factor for equities or futures. Not right now ST, though,:mad:

:confused: If there's no time value and the option is OTM, then there's no reason to exercise. If the option is ITM and there's no time value or as MTE put it - the time value is less than slippage - then you may consider early exercise to close. YOU would not want the underlying to move...

Anyone bother to look at OP's attachment. How did scaling out hurt him? He's assuming that he got the max. exit price, but what if he had closed at the first exit?

OP, you're getting advice from somewhere around 100 years options experience. Spin and dagnyt alone have 50+:D Good, sound advice you're getting but there is a drawback. Legging in or at any other point of the trade involves risk management - as has already been noted. The veterans...

Unbelievable, simply unbelievable! And here I was thinking that the economy may be in far better shape than anyone is currently expecting. Boy, did I get that one wrong.

I made, um, 8 million this year, so I really feel like crap.:p

You don't need a scanner to construct collars. What you need is a basic understanding of the put/call parity. Define "risk free." Are you looking for a no risk of loss situation - because only conversions are risk free, bond - like trades. The collar's " risk" is more dependent on...

Yes, good post.

Yeah, guys who make these kinds of posts got no conscience. No soul, man.

Merry Christmas. I'm taking the rest of the week off and will only monitor low risk positions for the rest of the year. It's definately time to "start Christmas.":D

Perhaps he was running his own ponzi scheme and Madoff's failure ruined his own chances of covering it up. Wouldn't surprse me. Time will tell.

Life is what happens while you are (busy) making other plans - John Lennon et al Life is the present moment. Everything else is all in your head.

Exactly, his fatal flaw. A great trader nevertheless, IMO. He also lost millions in business ventures, time after time. Something wrong there.