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Going Bonzo on the trade. Sold 2 Aug. monthlies for 1.52, trying to get the other shorts back. Got 'em for .71 +33 net of costs. Reverse diag. backspread now. Position: +5 Jul. 18 34.5P -2 Aug. 15 35P

Sold 3 Jul18 35.5P @.82 Covered stock at 35.51. Diagonal backspread - classic earnings play. But generally, the skew is meaningless. Long 5 Jul25 34.5P Short 3 Jul18 35.5P Net debit .57 (net of costs) with loss on stock. FWIW, let the rest of the AAPL expire worthless and managed...

Attempting leg in. long 5 Jul25 34.5P @ .59 and +200s @ 35.55. Syn. straddle. Will attempt to spread it.

Ok, out 3 shorts for .07. Costs are killing the P/L. With TWTR I got some rebates and ave. comm was .23/contract at one point. AAPL looks more like .75/contract. Got some serious delta on CL. Back to business.

OK, thanks for clarifying. I'm just glad that I didn't post my TWTR trade. :)

Legging out. Sold 2 longs @ .12. Working on shorts. Not pretty. Sorry FF. It looks like I'll probably win piker trade of the week. 2 out of 3 ain't bad though. You nailed the UL and picked good strikes. The only thing is size. At least a 5 lot. Make some money. This is just playing.

Just for fun. Legged into a 95.71/96 3:5 Jul 11 ratio spread @.44/.34 for a $38 credit net of costs. Strikes are too close for much upside. I'll see if I can't squeeze a little profit out.

Costless collars used to be attainable with higher interest rates, as has been noted. Even Mav's example is attainable. If the one year risk free rate were 10% and the 100 stock (no divs) ATM 1 yr. put was 1.00 (not likely), then the 1 yr. ATM call would sell for about 11.00. The "risk...

Posts 2 and 3 are very good and understandable. Also Downprufs constant use of flies finally sunk in and was educational about limited risk positions. I sell options naked, or more often ratio writes/spreads (same kind of risk) - but yeah I try to limit that risk ASAP. We all have short...

Try translating that into a $50 strike for a 77.50 stock. The calls are very ITM and the puts are very OTM. The .05 bid on the Oct. put seems a bit of an anomoly. Perhaps a small retail order. Otherwise, these very ITM and OTM options are illiquid and FV falls somewhere in the wide B/As...

hughb! Brother. 2013 was crap for me. More personal than financial, but they affect one another. Happy New Year and I hope all is well with you. Things are not so good for me right now. Working on it.

Merry Christmas!

Bring him back home. http://www.youtube.com/watch?v=IGzrYl072jc Alleluia.

you'all may as well enjoy some decent music http://www.youtube.com/watch?v=8EJDuchIBkQ

What's the title and artist of this ad tune - from Nissan's Easy Choice Sales Event. Haven't found the answer on internet searches. http://www.ispot.tv/ad/72UG/nissan-easy-choice-sales-event

Dog of the Day : Labrador Retreiver Duh, don't get some little shit dog. Er, please don't get a little yapper, like most people these days. Those little dogs are unmanagable. Get yourself a loyal faithful friend. There are very few humans who are qualified to be dog owners at this...

No doubt, CL redux is the bomb. West coast. easily, and I've spent some time in NJ and NY and New England. The thing is, dickheads? West coast wins easily, here. too many jerks. East coast is mellower, friendlier. Beauty and smell - west coast wins there. Must admit, haven't been to...

Here's a classic trader's song http://www.youtube.com/watch?v=EdDVgJWXMCI

I dunno. Hughb's last post from 4-05-13. The classic "Apartment thoroughly cleaned and sanitized. Laundry folded and put away. Errands run. Time to pour the wine..." Come on back, hugb. I need someone crazier than I am to random around with. Er, not really crazier-the same

Yes, it's the same. It really depends on costs and how you want to work the trade. In the markets that I trade, ITM options are rather illiquid and it seems that traders trade the synthetic rather than messing around with ITM. Liquidity is in OTM. If liquidity isn't an issue, then yes...