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I covered today for a .26 profit. If I would have been a little more patient and had better execution I could have got the whole .35 that was implied when the trade was put on. My question to the traders who specialize in option trading is how often can you put on these reversals for say 5...

Could you explain how the tender offer would affect this trade? I don't see how it would matter if it gets done or not. Regarding getting bought in, wouldn't you be able to get short using single stock futures if you wanted to keep the trade on? Do you think the premium on the put is...

Yes the risk of the common being called is definitely present. If called you could just exit the synthetic long and get flat. Or why not short the single stock future contract? I can't find any reference to a date in the tender offer news, but how would this be relevent anyway? If you...

Reardon Metal refered to this trade in another thread http://www.elitetrader.com/vb/showthread.php?s=&threadid=46659&perpage=40&pagenumber=1 I am not an options trader by any means but would like some comments on this trade please. I sold GM common at 32.35 shorted May 32.50 puts at...

I want to be alerted if a stock prints 15 cents away from it's previous print, on one exchange. I can't figure out how to make TI do this.

I agree. Also on large gap down days, you can get short stocks that open below the previous close, but are still above their fair value.

I don't have quotes for cds products, but I watch corporate credit srpeads pretty closely. LQD is a corporate debt etf. I watch the spread of it over IEF, which is the 7-10yr treasury etf.

Yes I trade prop with their software. A plain Dell workstation with 5 monitors. http://www.elitetrader.com/vb/attachment.php?s=&postid=700577

LOL, if I had a multi-million dollar account you wouldn't see much of me on these boards. Nope, I do it all from an account I keep in the $20-25k range.

20 is a lot, but I've had that many on a few occasions. As soon as I'm filled, I'm placing what Don calls a slingshot order for part of my position. It depends on the stock of course how far out I go, may be 6 or 7 cents for smaller stocks, 15 or so for the larger ones. If I've already got...

In that scenario, I immediately assume that there is some news that I've somehow missed and I'd be trying to bail on most of my position quickly. If he spread the bid down .50, I'd see where all the ecn's were piling up and join or step in front of them, trying to entice some buyers. FNM is...

I am patient on both winners and losers, scaling out of both. A large part of how I do that is the history I have with the stock. FNM has given me some wallopings the last few fills, so I try to cut the size down a little quicker now if he shows size against me right away. But, I also know...

Sometimes I wonder how you guys play this game. Look at some of these charts from today. APC DIS FNM UPS Lost .15 in TGT and worked a scratch in DOW 8 fills today. 5 wins, 1 loss, 2 scratches, +$4300 on 75,000 shares. Been a great month so far, only one losing day.

Ok, but why would it even matter if he hadn't traded prop? I've neve been a cowboy but maybe I like to hear funny cowboy stories. Or are you just looking for somewhere to flex your moderator muscle?

Are you saying your 23 college students combined netted 9 cents between them after commissions? So if they all traded 100 share positions and after they were all flat the profit added up to 9 dollars?

I always scale out, both winners and losers. I also utilize ecn's a lot. I never dump my whole position with a single order. Sometimes a stock will make an outsized move on light volume and I'm caught down 50 cents with 5,000 shares on before I can do anything about it. Sux, but it's part of...

My base share size is set to 4500, but like Mike, I vary it for many stocks based on share price, volatility and how well the stock has worked for me in the past. A stock like MOT or DIS I'm in the 7-9,000 share range. 2-3,000 for the higher priced, wilder movers. It takes a while to be...

Oh yeah, well I keep track of the woulda coulda's too and today if I didn't pull any stocks and held every fill until the close, I'd have been up over 20 grand. What did I really make instead? 600 bucks. Whoopidee doo...

I have a monthly goal in $ terms. January was slightly ahead, February about half, March just sucked.

No one mentioned plain old "financial trader"? That's the standard response I give, and it's usually followed by, "oh, you're a day trader"? But I like "buy and sell stuff on the internet", so I think I'll use that one now