Urgent Message From Rennick

[MAESTRO]

Quote from xflat2186:

Simply put, selling options late on a Friday wont net you the weekends decay since the market will start pricing days ahead earlier in the day Friday. Therefore you’re assuming all the risk for the short options over the weekend without receiving the benefit of the time decay in your favor over the weekend.

Geopolitical risk is a simple concept too. You can pain any number of scenarios which would make the markets open significantly down, meaning the SPX opening down ah la black swan event, but its not easy to find one which would force the market to open up huge. When you’re selling those naked puts you assume 100% of that geopolitical risk for very little protection or premium.

Implied volatility in the SPX has been dropping steadily for 10 days as evidenced by the VIX, if you were interested in selling some vega ( implied volatility ) why do it now with the VIX at under 19 when you could have sold it with the vix 24 or more not long ago?

Oh, you are absolutely correct! I have been doing it during the whole week (look at my posts). But I cannot afford to do too many contracts at once. I needed to spread them around, therefore, I use each 10 point price levels to get into some of my constructs. I somewhat disagree with you about the weekend stuff. I have been doing it for 15 years or so. But the rest of your comments makes sense.

 

[Relleum]

Quote from William Rennick:

FRI. 5/2 1:10 pm dow- 4

After nailing the Morning call better than anything Roger Clemens did to that 15 year old, the mighty "Ball" remains NEGATIVE calling for further WEAK Market action this afternoon... SELL ANY RALLY ATTEMPTS you crazy SOB's!


Rennick out

First of all, I didn't see you call anything in the morning. Second of all, you were wrong about further weakness in the afternoon. We had sideways action and a last minute breakout to the upside.

--Relleum

 

[MAESTRO]

Is 2 pm not the afternoon enough for you? I think you read things literally! I thought it was an excellent general direction call. I made money with it!

 

[William Rennick]

Quote from Relleum:

First of all, I didn't see you call anything in the morning. Second of all, you were wrong about further weakness in the afternoon. We had sideways action and a last minute breakout to the upside.

--Relleum

I scored an excellent win today. Thanks for snappin off Piker.

Rennick out

 

[xflat2186]

Oh heck its the internet everyone makes money all the time, why do people feel the need to post that they do?

 

[riskfreetrading]

Quote from William Rennick:

Good stuff guys,, can we get riskarb in here to translate please.

riskarb is very good, but atticus is even better (I heared he can be greater than himself)

 

[nonlinear5]

The ball's performance today:

 

[Dr. Zhivodka]

Rennick and Risk and Atticus all mentioned in the same sentence...whaddya know.

Quote from riskfreetrading:

riskarb is very good, but atticus is even better (I heared he can be greater than himself)

 

[shortie]

Quote from nonlinear5:

The ball's performance today:

it is common knowledge that The Ball performs much better when the signal is not distributed to ET. One explanation for this is that once Rennick reports his call a bunch of pikers follow the call making the edge disappear.

 

[xflat2186]

Quote from shortie:

it is common knowledge that The Ball performs much better when the signal is not distributed to ET. One explanation for this is that once Rennick reports his call a bunch of pikers follow the call making the edge disappear.

You're kidding right?