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He gets a % of assets under management, thus gets paid irregardless of performance.

How much you are willing to lose if you are wrong

I didn't really participate in the afternoon rally. Mostly twiddled my thumbs for the afternoon. My two swing positions did benefit from it though.

The strategy that made me most of my cash last year has mostly died off, largely related to interest rates and reg SHO. There was a sweet spot of about a year and a half for what I was doing and I swung big and hard. Now back to grinding it out and working on some new ideas. Hopefully one of...

Sign me up. I'm always looking to learn some new tricks.

At first I thought this thread was kind of silly, as anyone can post any specific day that was good for them, which of course doesn't' tell the whole picture. This is what I did, posted a screen shot of a big day for me, as a laugh. But now I can see that yes, there can be value in showing...

Depends. You talking genius quants or genius traders? The story proves that they are in no way the same. Genius traders know about risk control. On that point they failed spectacularly.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=748125> Have a good weekend everyone

I traded in two different accounts today, thus two blotters. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=748124>

I entered by sitting on the offer of the higher priced contracts while watching the bids or offers I would have to hit on the other three and still get in at the price I wanted. When my offer on the 70 put was filled, I just hit the bid on the 60 call and paid the offer on the others. I wasn't...

That GM reversal trade and ensuing discussion got the brain juices flowing and I've been watching for a few different setups to see if the whole options arb strategy is worth pursuing for me. I put on a box in MO today and I think I got it right, but would like some feedback in case I'm...

Whoa, the D-man gets it on the first guess. Yeah, quadruple witch Dec '04, my best day ever. Done and flat in 20 minutes. Would like some more of those. Yes, Hammer.

Just to show the silliness of this thread, I'll let you guess as to what day this was (not today). <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=746617>

If it's on nyse stocks, be careful. Many daytraders cross the listed markets with ecn's when they know the specialist isn't going to print the price he's showing, usually as a result of seeing a large order come into the book.

It depends on your broker and who they clear through. But GM is generally hard to borrow street-wide. It was discussed in this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=48986

What's the feedback on this strategy. I swing trade stocks and use pre-determined stops and profit targets. I don't hold for big moves, but go for higher turnover instead. Most trades are 2-5 days and 2-4% profit targets. About 60% of the trades are winners. What would be the downside...

The article I quoted above seems to explain why the skew was present. Those put writers who were hedged with short common were forced to cover the stock and thus the puts. Since the volume of forced covering was so disproportionately large, pure supply and demand blew things out. And since GM...

You missed a key word, the press release said he intends to do it, but it hasn't materialized yet. That's what the article writer was refering too.

This explanation makes sense to me. From John Succo, who writes at minyanville.com. Dear Mr. Succo, I own the General Motors (GM) 2007 30 Puts . I came home expecting to see huge losses, but my options were only off by $1.30. I remember a month ago before GM had its big announcement GM...

No, I exited all at once this morning, before the S&P downgrade happened. Covered the short common at 32.45 Covered the short put at 1.30 Sold the long call at .70 Nothing had changed regarding GM from yesterday afternoon when I put the trade on. And the skew was present all afternoon...