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"Greek language". Wow. A word to the wise: you can learn a lot by reading ET and asking questions of the smarter folks here. But pretending to know more than you do, and making assertions about things you can't possibly know, will kill that stone-cold dead. Quit while you're ahead.

That's... not exactly the case. I'll be generous and call it 99.999% wrong. In fact, having just glanced at some of your posts here on ET, I'm certain that you have no idea of what any of this means: "I was shorting bull synthetic straddles knowing the vol would drop with shares. I recall the...

A 365-day tenor will include exactly one instance of any annual event, no matter when it starts. I'm just going to let this go. No insult intended, but if you don't understand the absolutely obvious fact above, trying to explain is futile.

You missed one key point: his hypothesis was based on a spread that had a risk/reward ratio of 1:1. The only place that happens is ATM - so "430" was just a nominal placeholder for "ATM strike".

That makes no sense at all. You're saying that January to January is better than February to February, or June to June, or September to September. I'm saying there's zero reason to assume that. What are you missing here?

Dude, you must be high. Pissed off at you? What???

No, I'm telling you what ATM, ITM, and OTM refer to. It has nothing to do with where you "think" it's going to be.

All right, all right... here, have some notes from a padre in his confessional: "Dennis, Nell, Edna, Leon, Nedra, Anita, Rolf, Nora, Alice, Carol, Leo, Jane, Reed, Dena, Dale, Basil, Rae, Penny, Lana, Dave, Denny, Lena, Ida, Bernadette, Ben, Ray, Lila, Nina, Jo, Ira, Mara, Sara, Mario, Jan...

Oh, bull pucky. You're just being lazy. Cut it out.

I prefer "Dr Awkward & Olson in Oslo" by Lawrence Levine, myself. I spent a few years at anchor in St. Augustine, and he hails from there, so... yay, home team. :)

So now you have two assumptions in your thesis: 1) that at the end of a year-long tenor, SPY will be higher than at the start, and 2) that starting that tenor at the end of the year will provide some additional edge. I'll agree that #1 makes sense based on past history - but can't see any reason...

Just look at the current price. ATM/CTM is at/closest to the money; ITM calls will be below it; ITM puts will be above it. You should be able to figure OTM from there. :)

That far out, the strikes are $5 apart, not $1. There's also no Dec 31 expiration; 15Dec23 is the closest. At the moment, the O/I is 1845 at the 430 strike, and a bit below 2500 for the 435 and the 440, so I doubt that you'll get filled for 10k lots unless you lift the offer a good bit. But...

Just had that convo elsewhere. It can make sense in ultra-volatile memes, where idiots are willing to overpay... say you hit the bid on 100k lots and got some dosh from your broker (shared kickback, because you added liquidity); now you put your options back out at the same price you paid for...

The fuck's up with the army of hostile assholes in your journal, ON? Is it your refusal to block them no matter how toxic they get? I've got an "N strikes and you're out" rule, with N->0 as (assholishness+cluelessness)->non-trivial. There are just way too many featherless bipeds on this planet...

http://www.fallacyfiles.org/afthecon.html :) Meh, Heinlein did a much better job of this in "Puppet Masters". But those all represent something dangerous - an existential threat. The creature I was responding to was more like something you'd wipe off your shoe with a bit of disgust and...

:rolleyes: Gosh - a stalker of my very own! I'll be sure to mark it down somewhere. My list of blocked idiots is the first thing that comes to mind... Yes, I get that you must indeed imagine. Incompetents need a lot of imagination - otherwise, they'd never be able to come up with why everything...

Zero disagreement here. :) Although, if seen in proper context - like taking the offered drink voucher, sipping that while ogling the girls, and then going on with your business (damn, the clubs hate that...) - it can be useful as a way to get started. TT isn't particularly toxic - they're not...

If MMs had the kind of control over the market that this implies, we could all make a fortune doing that instead of trading. :) The market - i.e., traders - determines the prices at which a given instrument will trade. If the "majority opinion" is that a 30-day 100 call in a $100 stock is worth...

Again, given that TT's "thing" is getting new traders onboard via a basic education, all of their concepts are going to be introductory - and will fail out at the edges. They're not exactly teaching an actual stats class, just trying to get people to feel like they have an idea of what they're...