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  1. tommcginnis

    Need to eliminate the big losses

    Whattttttttt? Math FAIL.
  2. tommcginnis

    Option arbitrage question

    Which helps no one....
  3. tommcginnis

    Option arbitrage question

    What happens to the put at the end of one year? Rinse&Repeat. (Which is to say, it sounds like you're trying to get it all in your head at the same time. *Don't.* The call dies in one year -- what happens(ed) to it? But the put has 11 years to expiration! What happens to the put? If you take...
  4. tommcginnis

    Peterffy's worst trade ever?

    To translate, this is the community saying "We don't think D Malloy/CT Democrats will do anything near what is necessary to control taxes, in light of the removal of state&local tax deductions from Fed taxes."
  5. tommcginnis

    Peterffy's worst trade ever?

    ...and if it sells for $20mil 10 years from now, we'll all think him a bloody genius.
  6. tommcginnis

    Trading with objective/subjective choices

    I used to teach a lot of benefit-cost analysis in business schools (pretty much every class had some component in there...), and it would always crack me up to hear the empiricist declaration, "But isn't this just all *silly*!!! We can't *possibly* know all there is to know about this and pack...
  7. tommcginnis

    IB's TRIN data joins the ranks of Screwed-Up?

    It has occurred to me that opening a ticket on the "stable" TWS is pretty well foolish -- akin to wishing a fait accompli was undoable. In that mind, I'm thinking of moving to the beta TWS, as there might be more of an audience, and that audience might actually effectuate some change (should it...
  8. tommcginnis

    What is the best way to lock/exit all positions for option traders?

    Oh, and, just to be clear, seeing the magical Γ appear translates in my mind to, "G.T.F.O.!!"
  9. tommcginnis

    What is the best way to lock/exit all positions for option traders?

    I have a *notion* as to why -- that is less than a hypothesis. But with big volume (as compared to the Johnny-come-lately expiries), and much broader strike coverage (as compared to the Johnny-come-lately expiries), one has to wonder who is generating all that volume/open interest? And they are...
  10. tommcginnis

    What is the best way to lock/exit all positions for option traders?

    You might want to research that. SPX weekly(s) at deltas around 0.15 trade in the 10s of thousands per day, with open interest heading towards 100ks. The bid-ask spread is very consistently around 40¢ for the first month (maybe 5 expiries??) -- about 1xMID for the calls, about 1.5xMID for the...
  11. tommcginnis

    Annual PnL statement 2017 - Winner will be awarded a prize!

    What an awesome thread. For a couple of pages there, I had tears in my eyes, and was *literally* laughing out loud. Happy Bird-day to you all (and around the globe, eh!). Thank you for your fine, enthusiastic, *quick*, and even communal senses-of-humor. Jeez. Great thread...........
  12. tommcginnis

    Stacking two LG 34UM65 LCDs

    It will be a lot easier on you to move that extra equipment, and turn your head from side-to-side, than to spend your day looking up-and-down. We tend to the horizontal arrangement not by fashion, but biomechanics.
  13. tommcginnis

    Spreads for the next 24 hours

    https://www.splendidtable.org/story/turkey-confidential-2017 Oh mannnn! I'm listening to Lynn Rossetto Kasper in her last "Turkey Confidential"..... a Thanksgiving tradition on NPR..... and I really thought this thread would be on chutneys or rosemary jellies or habeñaro jams or........'' Damn.
  14. tommcginnis

    What is the best way to lock/exit all positions for option traders?

    I trade through IB, and so do all my analytics (market, position, portfolio) on a spreadsheet. With regard to position and portfolio questions, I have various alarms that might suggest attention {for my trading day}, and among them is a ratio question, which I THINK is...
  15. tommcginnis

    Spitznagel: Not All Risk Mitigation Is Created Equal

    It's Thanksgiving, and I'm bored as hell, and reading the (quality) cites in this thread on a subject I haven't read into in many months. (A year?!?!?) So..... THANKS, ALL! :):thumbsup::thumbsup::thumbsup:
  16. tommcginnis

    What is the best way to lock/exit all positions for option traders?

    Nope! As an option seller, you're selling theta -- and as your book ages, the portfolio theta grows. ("Yayyyyyyy!") But then, so does the book' sensitivity to market movement -- the stability of your portfolio delta goes to crap. That's that bastardly portfolio gamma. ("Boo-oooooo!") Even...
  17. tommcginnis

    Microstructure question

    "Microstructure" is the Business School term de'jure to describe actual trading, versus all those exceptions to the Efficient Market Hypothesis that had to be made before the Nobel committee yelled "Hey! Chicago School! Have you seen all this cool stuff happening in the Southwest??" and awarded...
  18. tommcginnis

    hmmm...

    Yeahhhhhh. Right. Just as the turkey fattened for tomorrow thought. "This farmer is my *bitch*!......"
  19. tommcginnis

    Spitznagel: Not All Risk Mitigation Is Created Equal

    http://www.pionline.com/article/20171120/ONLINE/171119874/commentary-not-all-risk-mitigation-is-created-equal Same article, but without the need-to-shower that accompanies any visit to zerohedge. (Snarky snark snark.) Thanks for a great post/citation.
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