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I assume that you mean the 50 strike. What's your purpose for using calls? @62 compare the stock+ APR 50P to the APR 50C. Don't forget the div. Compare the cost of holding the call to holding the stock with a hard stop anywhere in the 50s or high 40s. The call contract has its benefits and...

Um, CL is in contango. If you trade the ATMs you are trading the futures spread. You can lose on the spread, you can lose if CL drops, and you can lose if CL rises.

I don't feel bad, forex. But you are displaying your immaturity for the world to see.

Nah. Trying to deflect some heat? You really don't get spreads do you. At 109 the spread was nearly even. It cost a 1.35 debit - you know? I traded out of it. One contract at a time. Sold the longs 4.00, 4.05, 3.65. Bought the shorts, 4.95, 4.9. Sell, then buy etc. All between the...

I also have no idea. I've never been able to fing an option.

Last attempt at a FB leg in. Finally. +3 Nov.13 106C@2.43 -2 Nov.6 104C@2.97 No real edge here. "Timing is everything" and a loss is very possible. A slight advantage to leg in at the time - but -$25 net trading 200s since Mon. IV all over the place today. Crappy looking trade, really. An...

Sometimes, breakeven looks pretty good.

Agree. And it's right next to discard which I use frequently.

Yep, there was no trade posted = no trade. QQQ was the first choice so it's even ambiguous as to which UL would have been traded.

Well, it's either lottery tickets or there may be some kind of theory behind it. Many moons ago, I read McMillan On Options. In my edition, he quotes a trader who said that the only good option to buy is an expensive one. McMillan points out that you'd go broke without some sort of...

Yeah, thanks for invite. I'll check it out.

Yeah, you sold the upside. You didn't lose anything. You sold it.

I don't know much about FX options, but I'd say that the multiplier should be 100,000. Those options may cost $2625 each. The 100 contract trade would cost 262,500.

Yeah, I don't see where the P/L calcs come from. You're selling the Nov. guts strangle and buying the Dec. OTM strangle. You could get about a 1.00 credit at mid but volume is so low that it's likely not feasible. The problem is that the Nov. strangle will be worth at least 1.00 at expiry...

Yeah, you are comparing two different expiries. SPYOct30 vs. ESNov20. Hence, the lower cost and greater leverage of the SPY puts. Also, you are comparing slightly ITM SPY puts to ATM ES puts - which should also impact leverage. Another good comparison between the two is costs. Compare the...

There's nothing wrong with coming up with theoretical notions. But you should translate whatever edge you perceive into dollars and cents. You didn't include the option prices - that's reality. Looking at the prices this morning I see that you could have received about a .20 credit for the...

Yes, from the call delta of 1, gamma will increase on the way down. This refers to changes in delta which will decrease at an accelerating rate to .5. Therefore the rate of the loss in value of the call will decrease, as you said. Delta decreases at a faster rate toward .5 so the rate of...

The condor itself is the stop. A limited loss strat. Trade with an assumption that max loss is possible. Size and strike selection.

Hours? :) I spent years trying to decipher atticus' posts. When I understood his language, it was some of the best option and trading education ever - way advanced. Stuff you can't find in books. Some of his throwaway lines were also brilliant. He was generous and cool to many of us, but...

Yeah something like that. It's a reverse diagonal so the P/L is somewhat straddle-like, though more limited in loss and gain. You'd want a decent move away from 198, the sooner the better. The area around 198 is the loss zone at the first expiry. You can look at it as long the 198C, short...