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I was not awake for it, but it would appear that ES futures were limit down for a time. I went to bed after it drifted into the 2020's and figured we'd probably see limit down. I know liquidity in the Treasuries dried up during that time, but the ES seemed fine earlier in the evening. There...

I really thought - based on the lopsided odds from the brokers - that REMAIN was all but certain. That notwithstanding, you never know how these things will turn out. I had some pretty wide butterfly spreads (expiring yesterday) and had cashed out the long half at 90% and was fully prepared...

Exactly. That's what so many are missing here. The UK pays billions every year to the EU and gets precious little in return. All the angry liberals in the UK media are describing this as "votes from the elderly and uneducated that don't understand what they are doing". At least Cameron had...

I have IB as well and run SP/ES options on futures contracts. From my observations in the products I use, they were rock solid throughout - even when limit down and the volume dried up. There was a significant rebalancing that occurred at the close yesterday with the Russell.

Ladbrokes has it at 3:1 for staying now. Not sure where the "leave" crowd is getting the polling numbers in their favor, but it's at odds with the money. I'd go with the money.

Brexit is not a black swan event. A black swan event would be something akin to waking up this morning and reading that Spain, France and Italy had exited overnight.

The VIX is over 20 now on a nice slow drop over the course of the last few trading days. There are some excellent pricing opportunities available in many areas right now that we haven't seen in a while. For those of you that deal in volatility in any way, the sun is out.

It's not all Brexit. Maybe that's a piece of it. The market is toppy here and very hesitant at upper levels. When it wants to go higher we blow through highs and churn upward - this one looks like something that stalled with no real conviction. That, plus the Soros comments and a few others...

Most of the brexit polls have them staying in the EU, by a decent margin.

The flat to rising VIX in a grinding up market indicates lack of conviction with the rally. Lots of folks buying insurance to protect and/or benefit from the anticipated pullback.

The only positive right now is low interest rates. He has to factor vacancies and the possibility of someone doing damage to the place. Even if not malicious damage, neglect can cause just as much in the way of costly problems. A 100 year old house is a sponge for money. Not to mention the...

Things may have changed in the last few years, but if I remember correctly the only way to exempt yourself from any regulation was to limit your investors to Qualified Eligible Persons (QEPs). Even then, there is some level of scrutiny.

As someone who's managed funds for others and been through regulatory examinations, I can tell you they know pretty much everything. When I got examined, I got a few weeks notice and they had a team spend nearly a week at my place. They got every statement, communication, document and file -...

Whenever I have a loss that is greater than expected, I do what I call an "autopsy" on the entire structure from beginning to end (I only trade option spreads) to determine what went wrong - and learn from that.

I thought I read somewhere that Cramer had some convictions in the 90's and was barred from certain financial industry activities...wire fraud maybe?

You should do this quite a bit more to get a feel for how it will work in all markets. I run a series of spreads that benefit from the same type of market conditions. In the past few months, making 20% to 30% per month has been like falling off a log. There are many other times - and many...

Agreed. Seems like a very strange move.

It's not a big deal for me because I don't really push the margin envelope. If I get some crazy high margin number, it might be 50% of what's available. Typically it's very low for me - but may push up a bit if I have overlapping weeks on. And I've been with them forever and don't really have...

There is also a daily bias either on the long side or short side with regard to ES futures options. In other words the same position may have drastically different margins from day to day - depending on market conditions and direction. I've seen my margin change quite a bit during the...

Thanks Maverickz!