CBOT corn option pit trader talk

B

Brighton

I found this kind of funny for two reasons.

1) Contrary to what we sometimes hear on ET, even the big traders, including those scorned option sellers, will adjust/roll when things don't work out according to plan.

2) I realize floor brokers have been yakking about big orders since 1848, but I've always wondered who uses this information. It seems to me that a floor broker, if he wants to keep a customer, is not going to telegraph information that the customer wants to keep quiet. Therefore, you're only hearing what they want you to hear.

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StockTwits is as useless as Yahoo Finance Message Boards. Yahoo Finance streams StockTwits and calls it Market Pulse. Completely useless.
 
3,200 followers, though. For tweeting? I need to open an account.

Who is this guy? He is not an educator or a principal of a firm.
 
Xandman,

I don't know who he is. I occasionally see his messages if someone re-tweets them.

Maybe he's building a big social media following to mine for mentoring/education customers when pit trading eventually dies. Or maybe he just likes to chat about sports, politics and celebrities after hours...
 
Quote from xandman:

3,200 followers, though. For tweeting? I need to open an account.

Who is this guy? He is not an educator or a principal of a firm.
More...

don't pay attention to stocktwits.. think, read, quantify.. I did that when i was first starting out.. its an outlet for advertisers..
 
Too bad about pit trading. Did you see the Futures mag documentary? Where are they now.

I knew one of those guys years ago, Jeff Ansani, when I was a market reporter and he was JY options broker. I was unnerved seeing him in a yellow jacket. He should trade off-the-floor. He has 2 more brothers with the same expertise. Nice folks.
 
Quote from xandman:

Too bad about pit trading. Did you see the Futures mag documentary? Where are they now.

I knew one of those guys years ago, Jeff Ansani, when I was a market reporter and he was JY options broker. I was unnerved seeing him in a yellow jacket. He should trade off-the-floor. He has 2 more brothers with the same expertise. Nice folks.
More...

I play tennis with a guy that traded on the floor of the American Stock exchange in the 80's . He doesn't trade anymore.. That was back when you could just make money putting on box spreads, and conversions and stuff..
 
Here's the weird thing. The guys on floor say the guys upstairs make the big money. And, you read about the guys upstairs saying the guys on the floor make the big money. Heck, anybody who drove Porsche or a Ferrari was an ex-lawyer/ex-doctor/ heiress.

Who knows? Don't say the Shadow knows. The Shadow was a member suspected to go dumpster diving after trading hours.
 
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