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First of all, "the best traders in the world" can not be right every single time. Second of all, it's the layoff/volarb accounts that usually are the smartest guys in the room - that's why their flow is usually considered toxic by the market-makers themselfs. But most importantly...

Right, which is exactly why institutional clients are willing to pay higher commissions to get better liquidity and better execution. I have nothing against IB or other high-scale retail brokers and can envision situations why I'd use them myself (small-size personal account would be it), but...

Ta-dam-pam!!! I think I need to pulll you off-stage with a cane...

Did anyone ever mention to you that you are an idiot?

Gamma is your convexity with respect to the stock price. There is also convexity with respect to volatility, for example.

They certainly do and I do not think anyone here was asking for an execution advice (as you seem to ride into town). Which does not mean that people who do not trade 10k should not know how the size business is done in real life. They should also know that IB is not the only game in town and...

No, they do not. An institutional client (e.g. a large fund) will be covered directly by the sales force at each broker-dealer and the client will comp the order directly with the desks. In listed space, the commission costs will be negotiated together with the levels of the trade itself (e.g...

I can't see why a hedgie would decided to pull in a single strike like that just to play the news. This feels much more like a market-maker trying to get himself clean vs an OTC trade that he's done or (just as probable) some sort of corporate trade, maybe some sort of repurchase facility or...

There is a huge difference between execution ability for a retail trader and an execution ability for a institutional client. An institutional client can call up 5 banks, put them in competition on an order and virtually trade at mid. Can IB get me 10k contracts of 1250/1350 SPX put 1x2s at...

Unfortunately, the times of "blow for bro" are gone forever...

under a buck of premium, 1c, over dollar of premium - 2/3c (you have to be an important client for 2c, usually it's 3c). so not cheap at all, thats what i was trying to say (need to mult by 100, obviously)

eek - i really see why retail bro houses are doing so well. at the hedge fund, i was getting 1-2c per contract.

Mispricing of the options IS mispricing of the expected moves, since value of the option is dicatated by the implied volatility (which is the mean expectation of the moves). The idea of every earnings trade is to find stocks that have these expectations mispriced, either vs history or vs your...

Hmm... are you protecting yourself in any way?

Apparently you do, loser. Have a good one and welcome to my ignore list.

Well, I have admitted to be a weak fuck. You too, however, responded to my post so by the logic above... So far, however, the trail of post insulting people who happen to make more money then you do make you out as a sore loser.

A lot of outsiders buying to park some cash and I also think there have been a lot of really rich people moving back to the city. Personally, I can't wait for the top to give in a touch, but so far that has been nothing but a fantasy. Generally, the way my trading methods are set up, I do...

Actually, the prices in Manhattan have been acting very strangely. Lower-tier properties (studies and one bedrooms) have clearly declined in price 10 to 15 percent from the peak of 2007. At the same time, 1200sft and over have actually increased in price. I had a good year last year and was...

I guess I am a weak fuck, but clearly I am a successful weak fuck and you are clearly a loser (and a sore loser at that). For the reference, almost everyone in my coop has a dog and I'd guess that median income here is a $1.5 million a year. You don't have a pet and you are probably making...

I have not read the thread so I don't know what exactly are your doing, but in general you want your strategy to have positive expectation without stop-losses or take-profits. In fact, these should be relatively rare, otherwise you will end up paying a lot of transaction costs and not really...