"Fixing" Options Trades

This thread reminds me of this famous scene:

<iframe width="420" height="315" src="http://www.youtube.com/embed/LqeC3BPYTmE" frameborder="0" allowfullscreen></iframe>

IVTrader, "respectfully", I think you've got your ass handed to you by the above two gents.

Quote from IVtrader:

atticus

when you have been interviewed in SFO and Expiring Monthly magazines,as at least 3 traders in a certain traders community(where repairing trades under certain conditions is done, and where I'm a member in), who have established track records trading IC and calendars, then your opinion will be a lot more credible.
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Isn't this the community you speak of?

http://www.optionpit.com/

And as a tip on courtesy, please don't ever begin a sentence or a rebuttal with "respectfully"... everyone knows you're not tryna be respectful when you say that.

P-l-e-a-s-e
 
Quote from IVtrader:

I don't think so. you can prioritize being "intellectually honest" all YOU want,yet trading is about one thing: being p-r-o-f-i-t-a-b-l-e.

claiming a iron condor once delta hedged becomes a difference trade is respectfully nonsense. as long as the trade is negative vega, positive theta , its still an iron condor.

in practice exactly how many IC's have you traded? how many calendars have you traded?
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Atticus summed up what I was trying to say far more articulately.

Don't confuse your options position with your view. It's still an iron condor, but a delta hedged Iron Condor does not express the same view as an outright Iron Condor. Just like an outright call doesn't express the same view as a delta hedged call. Both are long gamma/vega paying theta.

I am surprized that someone called IVTrader doesn't know this.

It's been my experience that a lack of intellectual honesty is a major hurdle to profitability.
 
Quote from babutime:

This thread reminds me of this famous scene:

<iframe width="420" height="315" src="http://www.youtube.com/embed/LqeC3BPYTmE" frameborder="0" allowfullscreen></iframe>

IVTrader, "respectfully", I think you've got your ass handed to you by the above two gents.



Isn't this the community you speak of?

http://www.optionpit.com/

And as a tip on courtesy, please don't ever begin a sentence or a rebuttal with "respectfully"... everyone knows you're not tryna be respectful when you say that.

P-l-e-a-s-e
More...

$10,000/year! What a business model! Babu, start a website like this. And just get 20 suckers. You'll make a good living.
 
Quote from newwurldmn:

$10,000/year! What a business model! Babu, start a website like this. And just get 20 suckers. You'll make a good living.
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Yeah, come to think of it, I would guess I know at least 70% of what they probably teach.

Now I may not follow the same lingo. I might have an intuitive understanding of it in other ways but I'm sure any average intelligent person would know at least 70% of it without paying.

Now, I'll admit about 30% might be some advanced strategies, etc.

But I can live with that. Basics make me money.

EDIT:

A simple Red Hat straddle that I closed immediately on open made me $500 this morning...

Geez, I was thinking on dropping a course yesterday and wondering about the waste of those $600 bucks i spent on it.

No regrets anymore!
 
I'd mention that a short gamma condor is long gamma outside the wing-strikes, but I'd be wasting my time preaching to the "repair" pros. Oooops.
 
Quote from atticus:

I'd mention that a short gamma condor is long gamma outside the wing-strikes, but I'd be wasting my time preaching to the "repair" pros. Oooops.
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Save it for your interview in expiring monthy.
 
Quote from newwurldmn:

Save it for your interview in expiring monthy.
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There should be a LIKE or better yet, "FUNNIEST JOKE OF THE DAY!" button.

newwurldmn, that seriously made me laugh. i couldnt stop for an entire minute...

HAHAHAHAHAHA
 
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