I'm glad you weren't serious about these 5 ideas. The satire was so thick I thought I was reading theonion. Had to laugh though. Haven't read that many boneheaded ideas in one post in a long time.
Thread about possible option ideas for future...just for fun.
- Thread starter JJacksET4
- Start date
JJacks,
I really enjoyed your post!
The one idea that does make sense is the listing of options for each month in the next 6 months (although 3 consecutive months for all options would be a good start). Super LEAPS are a nice idea in theory, but driving a train through the spreads without touching them would happen in nearly every case. You might as well ask someone to take your wallet and max out your credit cards.
Weeklies are starting to catch on as well. Some of the more extreme types Vegas gamblers might like dailies, hourlies, and for that incredible rush you could try trading hourlies with 3 minutes to go just to get the juices really flowing. I think some of the CFD guys, binary boys and spreader sucker betters are already working this angle over across the pond in England.
One day when I wanted to make an adjustment in my SPX options but it wasn't really critical, so I sent in my order at 3:14 PM Central time with exactly one minute to go to closing at a fairly favourable price for me just to see what would happen. Sure enough, it was picked off with three seconds to go. I think the broker probably pushed the deal a bit to collect the commissions knowing it was just a day order and probably thinking that I didn't really care if it expired which was totally the case!
I know, I know, it was pretty tame fun, but...
I really enjoyed your post!
The one idea that does make sense is the listing of options for each month in the next 6 months (although 3 consecutive months for all options would be a good start). Super LEAPS are a nice idea in theory, but driving a train through the spreads without touching them would happen in nearly every case. You might as well ask someone to take your wallet and max out your credit cards.
Weeklies are starting to catch on as well. Some of the more extreme types Vegas gamblers might like dailies, hourlies, and for that incredible rush you could try trading hourlies with 3 minutes to go just to get the juices really flowing. I think some of the CFD guys, binary boys and spreader sucker betters are already working this angle over across the pond in England.
One day when I wanted to make an adjustment in my SPX options but it wasn't really critical, so I sent in my order at 3:14 PM Central time with exactly one minute to go to closing at a fairly favourable price for me just to see what would happen. Sure enough, it was picked off with three seconds to go. I think the broker probably pushed the deal a bit to collect the commissions knowing it was just a day order and probably thinking that I didn't really care if it expired which was totally the case!
I know, I know, it was pretty tame fun, but...
How about options that YOU set the expiry? The expiry could be in minutes, hours, days, or years. Enter your trade to get a quote back, if the quote is OK submit order.
