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Look for a position to suit the scenario, not vice-versa. You could go to amazon.com and buy a book as well.

An atm binary (pick 'em) mkt is 50/100 fairval (excluding FX). The vola doesn't matter, just the forward. There is no forward mkt in BTC so this is an outright fleecing. They're pricing a coin-flip at 70/100.

The mkt should be 45x55. The 70/100 payoff is insulting.

SAC will be charged.

Sold 936,xxx iPhone's in the pre-order, when numbers were announced. Xi Guohua stated that "over a million" were ordered.

You have a few hundred grand in savings and you were driving a truck for $7 an hour? Need I be the first to call this utter bullshit? Perhaps you should read this existential brilliance: http://elitetrader.com/vb/showthread.php?s=&threadid=281227

Delta is contaminated by vola and surface. There are lots of orders/moments, but those beyond third-order are mostly relevant to knockouts (vanilla and touch mkts).

Your questions are why 90% of mkt participants don't trade convexity. There is no substitute for immersion. You take a guy who's fresh with an adv degree in topology; l-alg, etc. and they will summarily blow-out. The is a cognitive barrier to entry, but it's dialectical. You can know Hunanese...

Hey Jack, How about we open a production account at IB (preferably), paper trader, or even a C2 account and run a quarterly contest? Highest return wins x? $5K or $10K to the winner? First to hit a 10% marked draw-down loses, but if neither hits then highest return wins. I'll even allow...

Ostensibly the guy can't see it on the chart either. That's a hell of an edge... either you win on price or on the lawsuit. Sounds like a real c*nt to me.

Well, Cohn was at the dinner. You're stating that he should resign? Regardless, you shoot first and ask questions later. He lets it ride for weeks? Sure he did. He figure that perhaps the mkt will take him out, or barring that he sues.

I don't think he's looking for allocation advice from anons on a msg board. They're asian oligarchs in banking and RE. "Inheritance to idiot sons" and all that it entails. The guy signed off on the trade or they have it recorded. Take the butthurt and close it out. He's only out the $35MM...

Exactly. He's taking advantage of the "Vampire Squid" publicity. I am sure they forced themselves into his home and held a gun to his head. I am no fan of GS.

You should stop. Three stop-outs in an hour?

-13 wow. I had no position in ES, just short street-deltas. Nice day.

How am I not surprised?

Corrolation and eiginvalues.

Tomorrow will be ugly.

How ironic. Schamp is King friggin' Solomon compared to you.