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Lol, thanks!

In general, when does time decay start to occur for a LEAP? Or when does it realy start to pick up? 3 months till expiration? Anybody have a graph? Obviously there are many other factors involved but assuming an ATM option, constant IV, interest rate, liquidity. Thanks.

I called ProShares the other day to try to find out if there are any rules to a Reverse Split and they were pretty vague. They told me they perform a reverse split based on what market participants tell them, i.e. the MMs and investment advisors. Anybody have any more information on when a...

How does an ATM have the highest intrinsic value? Wouldn't a deep ITM have a greater intrinsic value?

I think my posting rights are still restricted so my earlier post may be confusing as I didn't get a chance to edit it.

I really appreciate the responses. I've never worked in the industry so my posts may seem kind of naive, but I am very interested in learning more. My questions are bolded in the quotes.

Hey, Let's say you have a completely hedged position or no position at all. Also, let's say you make markets for a very liquid market such as options on SPX or VIX. Then, the market opens and someone makes a trade against your spread so you are net long/short calls/puts. Few...

I've heard one way to interpret delta is that it is the probability of an option finishing in the money. For example, a delta of .50 means that it should have a 50% chance of finishing in the money. This makes intuitive sense as an option with a delta of .50 is probably at the money. I've...