iron cockroach

Quote from anti ad hominem:

Thanks!

OK now c'mon db - inagottadavita (. . .Iron Butterfly) was a very clever hint! Have you been at the sleepy drugs again? :p

it's just a variation with one of the spreads a strike wider than the other. You want a 'credit' that is more than half of the strike width between the shorts. The knack is getting a good enough credit to make it work.
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Hi Marnie
Thanks for your explanation. I'm actually on holidays at the moment (sunny Melbourne) and won't be injecting consciousness altering chemicals again til next week :). Even on my break I can't stay away from this site (almost tragic, lol). The reason I asked about the cockroach is that it was mentioned as a strategy in one of J.L.'s emails and something that might be discussed at a seminar.
Cheers
db
 
Quote from Wayne Gibbous:

Is there anything posted on Optionetics that is not a joke?

not much :D
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I should have realized that. I've never seen any useful information on that forum, and this just confirms it.
 
Quote from atticus:

It begs the question, why would you continue to discuss the trade w/o outlining it here? Is this an Optionetics' thread?

I did read Eliot's response. Stating it's a joke thread really isn't telling.

Further, the Optionetics' "traders" [and some here] believe a collar is superior to a vertical. So no, I don't assume the barrier to entry is met on either board.
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Outlining what atticus? What's to outline, it is so blindingly simple that it hardly needs a working example - two credit spreads, one wider than the other. I KNOW the usual suspects here are better traders than to find this revelatory & will be wondering what the hell all the fuss is about - as am I.

And for the last time - this has NOTHING to do with Optionetics; marketing or no marketing. . .its just options. As for you last assertion, it adds no value, you're not basing your opinion off a representative sample (as you presumably don't have access to anything but the Optionetics public boards) - this opens up another conversation of course & I promise I have the same concerns as you do on this.
 
Quote from anti ad hominem:

Outlining what atticus? What's to outline, it is so blindingly simple that it hardly needs a working example - two credit spreads, one wider than the other. I KNOW the usual suspects here are better traders than to find this revelatory & will be wondering what the hell all the fuss is about - as am I.

And for the last time - this has NOTHING to do with Optionetics; marketing or no marketing. . .its just options. As for you last assertion, it adds no value, you're not basing your opinion off a representative sample (as you presumably don't have access to anything but the Optionetics public boards) - this opens up another conversation of course & I promise I have the same concerns as you do on this.
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The only position discussed here was the box in Eliot's post. Then you went on about a condor, of which I find no earlier reference in this thread. Obviously a misunderstanding, and I assume you're missing my point. I was simply stating the box is no condor. Later I hear reference to a condor, but no link or description. Anyway, I've long since lost interest -- let's let it go.

P.S. That Kramer at Optionetics is a trip... he went to great lengths to defend his ignorance of the vertical/collar equivalence.
 
The only position discussed here was the box in Eliot's post. Then you went on about a condor, of which I find no earlier reference in this thread. Obviously a misunderstanding, and I assume you're missing my point. I was simply stating the box is no condor. Later I hear reference to a condor, but no link or description. Anyway, I've long since lost interest -- let's let it go.

P.S. That Kramer at Optionetics is a trip... he went to great lengths to defend his ignorance of the vertical/collar equivalence. [/QUOTE]

atticus! see, I was not going to respond, until you added your PS, which belies your assertion that you have lost interest! :p

First point - go back and READ this thread from the beginning. In my second post, before Eliot's mis-representative cut & paste, I answered db's question (look at page 2). I did not suddenly start talking about IC's. So it was you who missed the point - presumably seizing what you saw as an opportunity to point out the failings of Optionetics once again? As if your help were needed in that department!

As for your edit: I am not going to defend Scot's knowledge, nor what he presents in his capacity with Optionetics. He's a big boy, who looked after himself on the floor for 10 years+, among other things. What I will say is, if you are refering to the 'blue' that went on over there on this subject, Scot actually took no part in it & it all began b/c once again something from over there was quoted out of context over here (I find myself wondering if you guys don't have better things to do?). Go ask him the question yourself, in a civilised manner & you'll find no argument exists. Hell even if you aren't civilised, you'll get no argument on points of fact where risk is concerned. . .
 
I read your posts on page two... you didn't refute Eliot's posted-position [the box], so I assumed you were referring to the posted-position as a condor. There was no reference to an alternate position between Eliot's cut n paste and your condor comments.
 
I read your posts on pages two/three. I assumed you were referring to the posted-position as a condor. There was no reference to an alternate position between Eliot's cut n paste and your condor comments.

However, I did miss this: "Eliot!? That was kind of obvious from just looking at what you quoted."

My apologies to Kramer if he was not the "guru" involved in the collar fiasco.
 
Quote from anti ad hominem:

As for your edit: I am not going to defend Scot's knowledge, nor what he presents in his capacity with Optionetics. He's a big boy, who looked after himself on the floor for 10 years+, among other things. [/B]
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I hear Oasis 07 was pretty good. I am skeptical however that the claims of him being able to structure a BWB (ratio spread) that withstood a 700 point DOW drop. Not that it's impossible, I have done some tests, and there is only 1 way to my knowledge it can happen, but either he's got some super secret knowledge or he made some adjustments. I can't fathom as of currently how ANY ratio spread untouched can have all strikes blown past and still be up money as he claims.
 
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