How to short the S&P using options? Day & swing puts

KCalhoun said:
Ultimately what counts is pnl proof screencaps.
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Given how easy it is to fake all of that, the only thing that's ever impressed me was @destriero posting his entries and exits shortly after he made them, where I could see them on the chart. Hell, I still remember when he posted an upcoming trade in /NQ - I didn't have a clue about futures at the time and so didn't take it, but again, I tracked it on the chart, and it was the real deal. Damn few people out there have that kind of moxie.
 
In regards to options, knowledge is not subjective as mathematic is not an opinion.

As a learner I appreciate the fact that when a self-righteous ignorant shows up here pretending to be a big shot, I get to learn and reflect on a few new things from the real traders in the forum.
 
cesfx said:
In regards to options, knowledge is not subjective as mathematic is not an opinion.
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Taleb expressed it quite well:

"Option hedging, pricing, and trading is neither philosophy nor mathematics.
It is a rich craft with traders learning from traders (or traders copying
other traders) and tricks developing under evolution pressures, in a
bottom-up manner. It is technë, not ëpistemë."
-- Nassim Nicholas Taleb

A craft vs. simply academic, "book" learning - with skin in the game to nail the lessons in place. Not to deprecate the latter - it's necessary - but simply reading a book isn't going to get you there.

As a learner I appreciate the fact that when a self-righteous ignorant shows up here pretending to be a big shot, I get to learn and reflect on a few new things from the real traders in the forum.
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There's a pattern to both the fakers and the guys who are the real deal: when challenged, the former respond by projectile-vomiting their fears and insecurities (kinda revolting, but also amusing.) By contrast, knowledgeable traders - even grumpy ones, which seems to be quite a subset of them :) - will at least smack you in the head with a cluebat and show you why you're wrong before they pull the trigger on the flamethrower.

If you're sitting on the sidelines, it can be quite a show. :)
 
taowave said:
He can break it down to simpler terms as a terminal bet,or,for an X ATR move,but he will be better off trading the underlying..

Hes not looking for leverage,or be hasn't stated it.Hes a day trader,what's the advantage of an option??

None of it matters???

Surely you jest:)
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Greeks really don't matter when you are speculating on the future as a buyer of premiums. It's not like you can negotiate for a price on the premium. The price is what it is. Buyers of premiums have their risk already defined to the amount they purchase.
 
Greeks dont matter?????

Are you indifferent to a delta flat 1x3 ratio vs a 1x3 backspread (same strikes)??

Your completely missing the point

If you are day trading and NOT looking for leverage,why trade the option???

Its an easy answer
 
taowave said:
Greeks dont matter?????

Are you indifferent to a delta flat 1x3 ratio vs a 1x3 backspread (same strikes)??

Your completely missing the point

If you are day trading and NOT looking for leverage,why trade the option???

Its an easy answer
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I think he's referring to deeps/singles.
 
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