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Well, as long as you are here to brighten up my way, I don't have anything to worry about, do I!?

I trade options, stocks and futures. I'm with Thinkorswim.

I agree, if your positions carry the level of risk, that you feel you need to hedge then why put them on in that size in the first place!?

Sorry, but I somehow find it hard to believe that you've been a floor trader for 10 years and now come to the ET to search for a job!

Not really, I'm in Europe and at work (start at 7:30am)

There was a trader in one of the "Market Wizards" books, who talked about how he noticed that he was profitable throughout the month, but then took big losses on expiration days, so he just stopped trading on expiration days. While some people make all the profits exclusively on expiration...

I meant 10-20 cents as in the quoted price so that's 10-20 dollars per contract. I didn't mean to say that you should get out, I just mentioned what I did with my 410/400 short put spread. I sleep great at night and I generally don't do adjustment, well except closing out positions that...

The settlement price will be published some time tomorrow afternoon. It takes a while to calculate it with 2000 stocks. I had a short 410/400 put spread on and closed it out earlier in the week, no point in waiting for those extra 10-20 cents.

1 per month per index on 3 indexes.

The reward is too low compared to risk as are the 66 days to expiry too far out for my liking, but that's me. I prefer no more than 45 days out and a risk-reward ratio of no less than 3:1.

I've never seen a software that displays the greeks on a percentage basis. Thinkorswim has them as an absolute value. So, for the AAPL position you have in the pic the 45 and -55 delta means the number of shares. Or in other words, the particular options have a delta of 0.45 and -0.55, but since...

Thinkorswim does.

When you exercise you lose any remaining time value so if it's greater than the bid/ask spread then you should not do it. Also take into account any exercise fees and commissions to close out the stock position.

Don't they use an average of some sort over a certain time frame to calculate the settlement value for Z? I would imagine if it's just a single value at a single point in time then it would be easy to manipulate. See, as I said, it can't be a single value (taken from Euronext/Liffe) Exchange...

That statement about the benefits of PM and the need to enter at least two positions is true, but it applies to related underlyings and FTSE and RUT are not so you won't see any benefit. It works for something like SPX and OEX or SPY and SPX or some other closely related products.

Strictly OTC.

Unless you are on portfolio margining, the margin requirement for RUT is based on reg T margin which is equal to the difference between the long and the short strikes for calls or for puts (doesn't matter as long as they are the same). So for example, if you sell a 400/410/500/510 iron...

You can't trade options realistically with fake money as the fills play a huge role in options trading and there's no way to simulate a real world fill. However, just to name a few, you can play at CBOE.com, Thinkorswim, and (i think) Optionsxpress.

The underlying for an options contract is a futures contract, so at expiration it is 1:1. To delta hedge you would use the delta. That is, if a put has a delta of 0.5 then you would use 2 to hedge 1 futures contract. The $-value of a point has no purpose here since the two use the same value...

I don't see why would this be unthinkable. This is around 60,000 deltas, so it could easily be a delta hedge.