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I think that those are called JPIGs

Juan Tumenny

Monitor the spread b/t the current month's CC and next month's same strike call. If the spread is widening, time decay is doing its magic. If it starts narrowing, take a closer look. You don't want a Pyrrhic Victory where you get to keep every penny of this month's write but get bupkus for...

You can do several things to lock in your gain, depending on how the gain arose. Bear in mind that although you will be locking in some of the gain since by staying with the position, you'll be risking some add'l loss should your decision to stay in the position be wrong. If you're ITM...

Hello. Is this the "Mine Is Bigger Than Yours" discussion board?

I have no opinion or outlook for ETFC. My comments are about the option/stock position. 1) I do not think much of a vertical spread that takes in less premium than the intrinsic value of the position. IOW, you sell a July 5/3 put spread that takes in $1.20 and will buy the stock for $3.80...

If you send me $5 by 12/21 I will tell you what the closing price of the SPX will be.

I must be a glutton for punishment :) Trade whatever option you can make money with. It makes no difference what other people trade or how they trade or the size of their trades. What matters is that you select the strategy that is appropriate for your risk tolerance on stocks that you can...

1a) I understand the cash is instead of .57 RIG shares (.57 x 100 = 57 RIG shares) and is fixed (does not vary with the price of the underlying shares of RIG). I'm not sure that you do understand it. They don't issue fractional shares in these mergers. So the cash in lieu amount is...

Hey! That's was MY gold star! Give it back!

LOL. I must want an ET gold star :) 1) Suppose you buy 10 RIMM calls @ 3 pts ea and they go down 2 pts each. Down 2 grand. 2) Suppose you buy 10 SPY calls @ 4 pts ea and they go down 2 pts each. Down 2 grand. 3) Suppose you buy 10 MSFT calls @ 5 pts ea and they go down 2pts each...

The short (and facetious) answer is that the best options are the ones that make you money. Options are derivatives and their value is primarily based on what the underlying does. For the most part (ignoring a couple of little details like time decay and IV change :-), if you get the timing...

You would have ended up owning two adjusted Jan 80 calls for GWF (see previous link provided for the terms)

Margin rules are different for stock and options. If you don't have the funds to purchase the stock (Reg T margin for stock is 50%), it's a margin violation and therefore you must either put up the extra cash, close the stock position directly or exercise an option that buys (sells) the...

Due to the merger with GSF, RIG contracts were adjusted. The new symbol is RFU and one contract represents 69 shares of RFU (the post merger shares), $3,303 and cash in lieu of a fractional share. Yahoo is notorious for not being up to speed with these sort of thiings. Good thing they're...

Become a pimp (G,D,R)

I've been comparing IB's numbers with calcs from my programs (for a whole two days! :-) and they jive. No problem there. The DDE link is another thing on my "to do" list. And yes, you are correct. Every application that you run sucks off a little bit from your speed. It's very...

Hey Don, LTNS I have found tech support to be helpful. The problem is that they need a tech support guy who also understands options so that he can straddle both worlds and provide appropriate direction. FWIW, I am getting individual option volume and now, thanks to nonprophet, IV, on the...

nonprophet, You are a ROCK STAR! That worked! If you ever decide to send IB an application for a position in IB's tech support dept, I'll be happy to pretend that I'm from Chicago and vote early and often for you :) Many thanks...

I assume that the last two replies were for me since they followed my post asking about IV. If so, I appreciate the attempt to answer my question but you've missed its context. I'm not looking for an explanation of what volatility and implied volatility are or how to use them. I kinda have...