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Dude, c'mon. Everyone knows the VIX isn't based on percentage move of SPX. The reason you're not getting some textbook reply on how the VIX works is because you're trying to call Mav out on something everyone here already understands as basic VIX knowledge. On top of that his entire point had...

Utter crap.

Stop relying on that bullshit backtest talked about earlier. It's bunk. If you sell gamma far OTM you will get fucked eventually, otherwise everyone and their dog would be doing this. In other news...

Does it have options?

GTC orders are not risk management with instruments that can gap overnight in an ever more 24/5(7) market place. Markets trade around the clock - and you cannot just depend on a GTC order on US stock security-baesd ETFs to be safe. I also haven't seen a single mention of ever using the...

What predicated this? Why not continue with your algorithmic trades? You're probably better off using your own stuff than being at the mercy of the indexes right now.

http://www.elitetrader.com/et/index.php?threads/6j-jy-minimum-price-increment-changing-from-12-50usd-to-6-25usd.292404/ http://www.elitetrader.com/et/index.php?threads/cme-reducing-6e-eurusd-tick-size.296041/

http://www.reuters.com/article/us-usa-crime-park-idUSKCN0YO2TS Here's the SEC complaint and some outtakes. This one is a real piece of work and really fucked some people over: https://www.sec.gov/litigation/complaints/2016/comp-pr2016-106.pdf

Dude, the pros are hedging deltas (either with the underlying or other options) and/or capping off their risk. You're completely naive if you think "experienced traders" just sit around and sell naked OTM crap all day.

No, wrong. The strategy is *not* sound. Ignore this at your peril. Additionally, I'm very suspect of that backtest: 1. The TOS software is not accurate for backtesting other than EOD type stuff. It doesn't test intraday numbers at all. 2. As a result, I highly doubt it takes into account any...

My gut says this is someone who got in way too deep and rather then coming clean tried to "roll it out" (if you will) in attempts to eventually recover the losses from October, 2014. Even though I think her strategy is totally insane and asking for it, she didn't particularly strike me as the...

No, I meant needing to "watch the trades as they progress." Look, if you just want to trade, then simply trade futures. It doesn't even sound like the instrument really matters to you that much, other than "I wanna daytrade stocks." If the answer to this is "no, I don't know about futures and...

Once the blow up happened it became 100% ponzi:

It's pretty much guaranteed you're going to lose money already with that approach. Look, why not simply trade US stocks on a higher timeframe chart rather than requiring "daytrading" time-frames such that you have to seek out other international markets?

Sheesh:

Oh man, such cosmic justice here - especially to all the people who called BS on this "trader" ages ago.

Oh yeah, Karen sure is alive and ticking - and she just got nailed by the SEC. Turns out, unsurprisingly, that no you can't just mindlessly sell deep OTM premium and survive long-term: http://www.elitetrader.com/et/index.php?threads/schadenfreude-warning-karen-the-supertrader.300275/ Now do you...

Still gonna be watching around 2080. This move isn't entirely out of the norm.

I think your notion of positive expectancy is not correct. You don't need to be right 100% of the time and you don't even need to be right 51% of the time. It's entirely based off risk/reward ratio. You should know though that with 3-5 delta puts you pretty much have to be right 95% of the time...