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You're welcome. Let's hope your thread is a success! :)

If you're trying to break a record, you've got some work to do. ZZZzzz is on something like 16.7 posts a day. You are only up to 6.19 posts a day. Pretty pathetic really. Still, your 15 posts in the last hour is not a bad effort. If you get a hobby other than posting on ET I promise...

What do you wish for other countries that don't comply with UN resolutions?

Debit + Credit should equal Spread Width - Cost of carry for the box. Some things to consider when choosing debit vs. credit spread: 1) Moneyness. The deltas of the options comprising the spread can have an impact on the b/a spread for each of the legs. In general, the larger the deltas...

LOL, want to start your own Elite Trader huh? AFAIK, Elite Trader runs on a customized + older version of vBulletin. It's one of, if not the, most popular bulletin board software there is. The other very popular software is phpBB which anecdotally probably beats vBulletin in terms of...

Relax, SPX going nowhere till next year LOL :D

It depends what you're trading and position size. Certainly more bang for your buck under SPAN or market maker haircut though.

Try having your amygdala removed. DIY approach is not recommended :D

Yeah Andy, Yeeeeeeeesh! If you can't simply spend 30 seconds ET searching "cheap gamma"....:D Joke. Simplistically, if you sell a $10 spread for 50c that's cheap gamma. The 50c can go to 10$!!! Fantastic leverage...but in the wrong direction :mad: Gamma magnitude peaks ATM and dwindles as...

I'm sure you have heard of PREM! It's the premium that futures are trading to cash. So no, it's not a chart style indicator! Depending on your charting package/data vendor you can get access to it as a symbol e.g. $PREM. www.indexarb.com www.programtrading.com The above two sites...

Yes, short both CALLs and PUTs at the same strike is short a straddle or combo. Not a bad way to be short gamma but as MTE pointed out, gap/jump risk is the bane of short gamma strategies and the boon of long gamma strategies. As with most option strategies, volatilty is key. With...

Collars are synthetic verticals: limited risk/limited reward. I know of no books that are collar-oriented per se, but learning the basics and fundamentals of options before moving on to collars is probably a good idea. You can't go wrong with a good introductory text e.g. Options as Strategic...

Arguably, some mutual funds would qualify as not being too smart LOL. I suspect your friends and acquaintances are not representative of the "quick buck" herd. None of earlier statements are meant to imply that I am any less dumb myself :) MoMoney.

Bringing this thread back to life.... Seeing as Cache and others enjoy the occasional pie in the sky market prediction antics, I'll make a small contribution for your entertainment. It will be worth exactly as much as you paid for it: It seems possible that the final "third" of the rally...

Yes, collar = bull vertical = bull PUT spread = bull CALL spread. If the expirations for all options are the same. Otherwise, it's synthetically equivalent to a diagonal. MoMoney.

Synthetically equivalent means I can substitute your long futures with a long CALL and short PUT at the same strike when you aren't looking at any time and you wouldn't notice the difference in behavior of the net position. No, he won't be whacked if vol jumps any more than he would be...

Erm, 3 months would take us into next year. Thread title is: "S&P has topped for 2006".

Yes, it is as bullish and risky as long stock. Does that make it bad? LOL. Nobody suggested it was market neutral. Synthetics. Put/call parity. This is absolutely fundamental options 101 stuff. For most intents and purposes (some exceptions outlined by FullyArticulate), a synthetic...

FWIW, Andy has been at this for years judging by his Internet trail LOL. So, he is not a newbie. I'm not in total disagreement with the sentiments expressed. Delayed quotes here amongst others: http://www.futuresource.com/quotes/options.jsp?s=ESZ06&r=ES Good luck. MoMoney.

Your age is irrelevant except that it's an advantage; you have time on your side :) There's no need to apologize, it's your money. It sucks big time that your savings got blown. Never say never. You might use the experience as a tool to better educate yourself and get your own back in...