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risk, in your opinion; can one over the longterm trade short options for substantial profits 3 sigma's out?

all my credits are bought back, every month as a rule. i cannot tell you all how many times doing that made a winner out of a nail biter...

i was only trying to lighten up things here. i knew you were not defending him. i just happen to be interested in vic mainly because: i am a longtime premium writer,followed his accomplishments for years, and i live down the road from him and have toured his place recently.

i get the impression that one gentleman likes Niederhoffer, and the other does not. maybe mav , the last few posts were on topic......even if not on topic; i was thoroughly entertained.

i do understand your rationale for ctm spreads...but....when was the last time you had to "roll" or manage the position and what exactly did you do(if you remember)? also, are all future option spreads legged in on ib? thanks

i have one new addition to my journal, short october 620 . please see below. update er2 future options -10 puts october 610 sold @ 2.00 /current value .56 -10 calls october 795 sold @ .95 /current value .58 -10 calls october 800 sold @ 1.05 /current value .36 -10 puts october...

risk, is the "no touch" trade with a hedge your preferred strategy? are the hedges hard to manage? is there a way to study or search this answer if you have been asked this before? i am obviously interested in studying what you do and how..... thanks again

yes, i did write october while sept was still open. i was planning on closing september, but since it had so little value i had not pulled the trigger. funny though, today at around 11:00am i closed them for .10 .normally i do not hold that long. i am thinking about more calls, just had orders...

no complex stuff here, just some overbought/sold indicators and to me just as important real world events taken as a whole. as you noted, i do buy back most of my positions when i feel a certain profit is reached. my feeling is, those that spread must go closer to the money and will be...

Quote from riskarb: It is far more sound to simply sell ER2 puts and get flat deltas in ER2 futures. Even hedged weakly is preferable to your current course of action. i do understand the concepts that you have put forth. i just do not think i may have the ability to effectively implement...

update er2 future options -10 puts october 610 sold @ 2.00 /current value 1.19 -10 calls october 795 sold @ .95 /current value 1.27 -10 calls october 800 sold @ 1.05 /current value 1.08 open sept positions -10 puts 610 @ 293.35 value .13

thank-you sith. i knew when i listed my positions that it may be confusing. i will improve. the "1.8" refers to what interactive brokers says the contract is currently worth. so if i sold at 3.1 and it is now worth 1.8 my net at that particular moment is 1.3 in unrealized gain. thanks...

update closed sept 06 760 call -10 @ 1.3 +10 @ .25 11:16 am closed sept 06 750 call -10 @ 1.8 +10 @ .60 10:24 am new positions: -10 puts october 610 @ 2.00 value 1.43 -10 calls october 795 @ .95 value 1.25 open sept positions -10 puts 610 @ 293.35 value .13

firstly, i cannot tell you how much i appreciate your input. it mean's more when it is about one's self, instead of simply reading about others. i understand some of the ways to be delta neutral, just not ready yet. like you said "there is no adequate hedge for these strangles" i would...

update account value:87,360.89 i am showing available funds for after hours, because that is all that matters really. 58,520.30 positions: all er2 and short closed positions are from friday 8/25 sept 06 615 put -10 @ 3.73 closed @ .20 sept 06 610 put -10 @ 2.86 closed @...

updates below. one position change. account value: 86,530.97 positions: all er2 and short sept 06 615 put -10 @ 3.73 value .50 sept 06 610 put -10 @ 2.86 value .40 sept 06 762.5 call -10 @ 1 closed at .40 (net .6 x 10) sept 06 760 call -10 @ 1.3 value .55...

absolutely, when regular trading resumes. that is why i do not and will not put on any new positions on until certain criteria is met. of course i look forward to starting new positions, just cannot yet..... risk, never took it as sarcastic, i understood you immediately. really...

thanks for not letting me down. yip, it can get very intoxicating. get me a 25pt move in a few days and i am possibly rolling with these existing positions. risk, i have been at this a long time, just now i have decided to make this a living to be(key phrase) , instead of spending money.

since understanding span margin is very difficult; maybe some updates will help when positions have not changed. my positions are the same as first posted, yet my margin set aside has change to: 26460.66. very important also is that after hours it goes up. current positions were put on at...

yip, the span margin changes constantly. at present time, there is approximately 52,000 taken span. i have had it go up close to max once early on, what i have done is roll to the next month and further away. in that case i was credit positive and reduced span tremendously. with the puts i am...