300.

BostonTrader339 · May 20, 2009

Quote from cohenmichaela:

Wow, that is a dizzying intellect you have. Your assumption of my relationship to Steve Cohen is similar to your assumption that you understand put/call parity. Completely flawed. Cohen is a common surname.

I have no intimate knowledge of Steve Cohen so I see know reason to attempt to answer your obscure questions. Unlike yourself, if I don't have a shred of knowledge on a subject I will openly admit it.

they weren't obscure questions at all. they all directly relate to my focus and for creating this thread.

they directly related to the questions you responded to that i posted for asiaprop, which he apparently cannot answer in an intelligent way other than posting insults to assert his non-chinese racism.

if you can't play by the rules of the playground, then may i suggest you go play on the swings with the girls?

cohenmichaela · May 20, 2009

Quote from TRYKtrading:

yes, yes i did. so my commission was one fee, rather than three separate trades at a higher cost, thus reducing my commissions significantly.

I'm confused. You legged in to the trade but only paid one commission? Legging in means each trade was filled separately and not as a single order.

BostonTrader339 · May 20, 2009

Quote from cohenmichaela:

I'm assuming you legged into this position?

CLOSED.
B1000GS@137.89
S10JUN135C@8.20
B10JUL140C@8.80
B10JUL145C@6.70
B10JUL150C@4.95
B10JUL155C@3.55
B10JUL160C@2.46

so, God, hedge the options for me, since i don't know what to do next.

+
B4000GS@137.83
it just broke above the last high of 138.05.

http://1.bp.blogspot.com/_hYa-vYQLd...HY/laW9-E4whpM/s1600-h/GS.052009.1M.304PM.jpg

when it breaks 145, i'll probably sell the entire position outright, or buy 145 puts and sell 50JUL145C. not sure yet.
it's a 1M+ position, and i'm so stupid, i'm probably really dumb for taking this much risk without hedging, right God?

can i afford to throw money away like this?

BostonTrader339 · May 20, 2009

Quote from cohenmichaela:

I'm confused. You legged in to the trade but only paid one commission? Legging in means each trade was filled separately and not as a single order.

Investopedia explains Multi-Leg Options Order
This type of order gives the average option trader the ability to incorporate advanced options strategies that consist of many options by placing one order and only paying one commission. For example, one multi-leg order can be used to buy one call option with a strike price of $35 and one put option with a strike price of $35 (straddle strategy). Historically, this strategy could only be achieved by placing two separate orders (one for the call option and the other for the put option).

cohenmichaela · May 20, 2009

Quote from TRYKtrading:

Investopedia explains Multi-Leg Options Order

I understand combo orders but I thought it was common knowledge that legging in to a position meant separate orders.

Investopedia explains Leg
1. An example is when a broker attempts to execute an option straddle order as two separate transactions. The possibility for profit and loss occurs though the fluctuating price of the options.

Regardless of our misunderstanding, are you saying that you were filled on all 3 legs of your GS position at the same time?

BostonTrader339 · May 20, 2009

Quote from cohenmichaela:

I understand combo orders but I thought it was common knowledge that legging in to a position meant separate orders.

Investopedia explains Leg
1. An example is when a broker attempts to execute an option straddle order as two separate transactions. The possibility for profit and loss occurs though the fluctuating price of the options.

Regardless of our misunderstanding, are you saying that you were filled on all 3 legs of your GS position at the same time?

ok, i'll do my AAPL trade now, exactly the same way. all three orders in at the exact same time, one commission on the shares, one total on the options.

Home > Dictionary
Multi-Leg Options Order
What Does It Mean?
What Does Multi-Leg Options Order Mean?
A type of order that allows an option trader to simultaneously buy or sell a number of different options that traditionally could only be achieved by placing separate orders. This type of order is primarily used in multi-legged strategies such as a straddle, strangle, ratio spread and butterfly.
Investopedia Says
Investopedia explains Multi-Leg Options Order
This type of order gives the average option trader the ability to incorporate advanced options strategies that consist of many options by placing one order and only paying one commission. For example, one multi-leg order can be used to buy one call option with a strike price of $35 and one put option with a strike price of $35 (straddle strategy). Historically, this strategy could only be achieved by placing two separate orders (one for the call option and the other for the put option).

B1000AAPL@126.44
B10JUL130C@6.00
B10JUL130P@9.40

i think they call that a straddle, right God?

but i added this just for shitsngiggles to cover my commission costs, seeing as how i don't really care about the spreads...
LOL.

S10JUN135C@1.88

cohenmichaela · May 20, 2009

Quote from TRYKtrading:

ok, i'll do my AAPL trade now, exactly the same way. all three orders in at the exact same time, one commission on the shares, one total on the options.

Again, I'm not debating with you about IF you can enter a combo order. I'm just asking if the 3 legs of your GS position were filled at the same time?

cohenmichaela · May 20, 2009

Quote from TRYKtrading:

B1000AAPL@126.44
B10JUL130C@6.00
B10JUL130P@9.40

i think they call that a straddle, right God?

S10JUN135C@1.88

Actually, that would not be a straddle. It would be a ratio'd calendar spread. Long 20 back month 130 strike calls and short 10 front month 135 strike.

BostonTrader339 · May 20, 2009

Quote from cohenmichaela:

Again, I'm not debating with you about IF you can enter a combo order. I'm just asking if the 3 legs of your GS position were filled at the same time?

the shares are one trade.
the options combined in one order.
so, yes?
no?
maybe?

in terms of execution time, yes. they all went in options after shares, a few seconds apart, as market orders. i never use limits on originating positions, only on stop exits, or if i'm automating a scalping process.

BostonTrader339 · May 20, 2009

Quote from cohenmichaela:

Actually, that would not be a straddle. It would be a ratio'd calendar spread. Long 20 back month 130 strike calls and short 10 front month 135 strike.

ok, then the software was wrong.

i right clicked on BUY STRADDLE on the 135C line and it executed both sides at once.

whatever it's called, i don't care. i'm long calls, long puts. the dictionary says that's a straddle.

ok, so i'll double my position, only using 135Cs.

B1000AAPL@126.15
B10JUL135C@4.00
B10JUL135P@12.75

it even shows my mouse.

http://3.bp.blogspot.com/_hYa-vYQLdw8/ShRcKhqKCuI/AAAAAAAABHg/Y7mIeLom0BQ/s1600/AAPL.052009.1537.jpg

so tell me how to hedge this, if i'm so clueless.