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Yep. QQQ (and SPY) should be freely shortable and this is a common strategy to avoid paying the vig. The position is basically locked down at that point (sans random flash crashes).

I've been having decent luck on this Sugar fly. Got in at 0.28 (although I used 2 calendars to do it as there's no native fly market from what I can tell, or maybe just IB crap).

Yeah man, coffee definitely is a headfuck right now. Frustrating to say the least.

Good call.

@Baron or @Magna, can you merge this thread into risknav's thread (http://www.elitetrader.com/et/index...-leg-positions-setting-disappointment.292484/)? I didn't realize then that this was the same issue he was describing.

I honestly think you should just find a way to wash trade your way out of this. The problem will be on what method you'd use to guarantee one side loses vs the other. Can you buy options on anything? Have another account sell options on some ridiculously far out strike that no sane person or MM...

Yep. RSM is tongue in cheek and all laughs about it when the market is irrationally rallying upward, but if he truly knows the entire thing is bullshit - why not stick around for the inevitable sell-offs as well?

Just how many traders do you think are short that stock and just how many glam-chasers do you think would hop right on given a breakout to the upside? Forget about fundamentals.

Definitely looks ready for a pop.

Yeah I never understand why you go absolutely AWOL when the market is selling off, Rickshaw.

The problem here is the nature of the speedtest is misleading you. It depends on browser CPU cycles to measure so if you have other processes competing for CPU then it can disrupt the test. Your actual underlying speed, connection-wise, is the same throughout. :-)

Guys, this isn't 1999. Literally any broadband is going to be absolutely fine. Killing off "unnecessary processes" will do nothing for latency as it's a physical limitation based on your proximity to the remote destination you communicate with. I've literally traded off my phone in tethered...

Yes but I'm not talking about typical trading stuff - I'm talking about the fact that he cornered the market to benefit his longs, and then shorted the market before he flooded it. Takes some real balls and he should have just stuck with the first trade. Also, @Baron, I think it's pretty slick...

Seems pretty extreme to have close to 60% drawdown that definitely appears linked to position size.

Another person with a SE Asia connection here. My wife is Sarawakian (Iban) so if we moved back there for any significant time we'd definitely be based out of Kuching. I wouldn't consider Thailand or HK myself, and Singapore probably wouldn't fly either - a bit too cina for us lah :D, we need...

This isn't really true though - as the broker being discussed here isn't exactly a low commission broker whereas IB is a low commission broker and for the most part doesn't have huge problems.

If I'm understanding that chart correctly, max position size goes to 11 (hah!), and capital balance drops about 50-60%?

Where are you getting the idea that there is exponential growth at all price points? There is exponential growth of delta (via gamma) as the underlying approaches ATM at which point gamma peaks and growth begins to taper in a logarithmic fashion as gamma decreases. A long put with a delta of -50...

Your solution might be to basically do what everyone else is doing: calculate it yourself. You shouldn't have to bother with back adjusting or anything, just the transition points.

I found it fascinating how the guy played both the long side AND the short side. Meanwhile, today, we have entities like JPM who are allowed to corner the paper gold market.