Plain Vanilla Options Trades.

[SOCRATES]

but your refusal to explain why (I don't blame you for that, but...) renders the initial aim of the thread pointless, surely. Otherwise it's exactly the same as picking 10 shares...no?

UTB

Don't argue with me UTB...Everyth;ing is decided in advance, absolutely everthing.

 

[the blades]

Don't argue with me UTB...Everyth;ing is decided in advance, absolutely everthing.

It's clear to any sane person I'm not arguing. There's opportunity for dialogue that you're clearly not open for. As your arrogance knows no bounds, I don't expect you to explain yourself to me. However, others more equipped have challenged your assertions in a polite, clear and structured way. Unfortunately for you you've failed miserably to meet their challenge and hence failed (as yet) to make the initial point that you intended to make.

UTB

 

[Profitaker]

Profitaker,

Isn't the point that Socrates is making is that it's all about methodology? Intuitively what you are saying makes sense. But then again, if you could make money writing poetry then every man and his dog would be doing it, wouldn’t they?

Socrates appears to be doing what many people here are claiming is impossible, what am I missing?

No, the point the Soc is trying to make / show / prove is that option writers have the edge. Not just Put option writers mind you, all writers. Now, for every time the Soc (read Bulldozer) makes a profit from writing a Put, I’ll show you a call writer that made a loss. The same is true for the buyers of options, in that for every Call buyer that made a profit, I’ll show you a Put buyer that made a loss. So you see his practical demonstration does absolutely nothing to prove his assertion that option writers have the edge, or disprove it either, I should add. It’s like winning 20 times at roulette by betting red and then claiming the colour red has the edge. That would be just as laughable as the conclusion he draws from his Put writing demonstration here.

You mention methodology. There is a best option strategy for any given view on the market. If you think that implied volatility is relatively high (options are expensive) and the market will go broadly sideways, or maybe up just a little, then one of the most profitable strategies would be shorting naked Puts. However, what we actually have is low implied volatility (options are cheap) and a strong rallying market. In which case the most profitable strategy would be long OTM Calls, as we have clearly seen by monitoring and comparing the April 6475 Calls to the sold Apr 5975 Puts.

So yes he has made a profit (from the closed Put positions anyway) but he has badly misjudged the market and would have made substantially more money going long Calls and would have taken on substantially less risk, to boot.

If writing Puts was a no-brainer then everybody would be doing it to such an extent that it was longer a no-brainer. Which leads me nicely onto another point - if he really does belive there is an edge in writing options, why is he broadcasting it at the top of his voice ?

 

[SOCRATES]

No, the point the Soc is trying to make / show / prove is that option writers have the edge. Not just Put option writers mind you, all writers. Now, for every time the Soc (read Bulldozer) makes a profit from writing a Put, I’ll show you a call writer that made a loss. The same is true for the buyers of options, in that for every Call buyer that made a profit, I’ll show you a Put buyer that made a loss. So you see his practical demonstration does absolutely nothing to prove his assertion that option writers have the edge, or disprove it either, I should add. It’s like winning 20 times at roulette by betting red and then claiming the colour red has the edge. That would be just as laughable as the conclusion he draws from his Put writing demonstration here.

You mention methodology. There is a best option strategy for any given view on the market. If you think that implied volatility is relatively high (options are expensive) and the market will go broadly sideways, or maybe up just a little, then one of the most profitable strategies would be shorting naked Puts. However, what we actually have is low implied volatility (options are cheap) and a strong rallying market. In which case the most profitable strategy would be long OTM Calls, as we have clearly seen by monitoring and comparing the April 6475 Calls to the sold Apr 5975 Puts.

So yes he has made a profit (from the closed Put positions anyway) but he has badly misjudged the market and would have made substantially more money going long Calls and would have taken on substantially less risk, to boot.

If writing Puts was a no-brainer then everybody would be doing it to such an extent that it was longer a no-brainer. Which leads me nicely onto another point - if he really does belive there is an edge in writing options, why is he broadcasting it at the top of his voice ?

.

 

[SOCRATES]

It's clear to any sane person I'm not arguing. There's opportunity for dialogue that you're clearly not open for. As your arrogance knows no bounds, I don't expect you to explain yourself to me. However, others more equipped have challenged your assertions in a polite, clear and structured way. Unfortunately for you you've failed miserably to meet their challenge and hence failed (as yet) to make the initial point that you intended to make.

UTB

I am not arrogant UTB. I am not arrogant at all. If you knew me you would not find me arrogant. For example, the roadsweepers and bin men are open and friendly to me. I stop and talk to them in the road. I bring them in for a mug of tea and a biscuit. But there again they are not abusive to me and try to do my head in.The same applies to my relationship with any other ordinary workmen and other people going about their ordinary day to day business.

I am not arrogant. It happens that I am master of an arena none of you can penetrate and this serves to infuriate a lot of people. I am not just the master, I consistently prove it, so what more do you want ? I cannot help it. All of it is obvious to me. All of it is decided in advance. All of it. I keep telling you but for some reason you wear some goggles that do not allow you to see and percieve what I can in advance of the event. This not only applies to Options, but also to Equities and Futures. As Pod G says " all of it is obvious...it is screaming at you...screaming !" I cannot be you I am sorry, all I can do is show what I am doing and have done, and no more.

It is then for you to understand it or not understand it. I just do it. That is all.

 

[dbphoenix]

I am not arrogant UTB. I am not arrogant at all. If you knew me you would not find me arrogant. For example, the roadsweepers and bin men are open and friendly to me. I stop and talk to them in the road. I bring them in for a mug of tea and a biscuit. But there again they are not abusive to me and try to do my head in.The same applies to my relationship with any other ordinary workmen and other people going about their ordinary day to day business.

Assuming the role of lord of the manor and being patronizing to tradesmen is simply another form of arrogance. Woe be unto he who makes the grievous error of disagreeing with you, much less calling attention to one of your flaws. One hopes you'd understand that the consequences of irritating a tradesman would be far worse than antagonizing a member of T2W.

 

[the blades]

I am not arrogant UTB. I am not arrogant at all. If you knew me you would not find me arrogant. For example, the roadsweepers and bin men are open and friendly to me. I stop and talk to them in the road. I bring them in for a mug of tea and a biscuit. But there again they are not abusive to me and try to do my head in.The same applies to my relationship with any other ordinary workmen and other people going about their ordinary day to day business.

I am not arrogant. It happens that I am master of an arena none of you can penetrate and this serves to infuriate a lot of people. I am not just the master, I consistently prove it, so what more do you want ? I cannot help it. All of it is obvious to me. All of it is decided in advance. All of it. I keep telling you but for some reason you wear some goggles that do not allow you to see and percieve what I can in advance of the event. This not only applies to Options, but also to Equities and Futures. As Pod G says " all of it is obvious...it is screaming at you...screaming !" I cannot be you I am sorry, all I can do is show what I am doing and have done, and no more.

It is then for you to understand it or not understand it. I just do it. That is all.

As DB points out - you fail to see what you've written above as arrogant (" you mean that you actually talk to road sweepers?") .

You can tell me all you want, but I'm actually not asking you. I'm perfectly happy with what I do. When I need to take steps forward I'll track people like Grey 1 and many others around these forum's, who are truly inspirational and give advice for free.

You serve as nothing more than a waiting room Hello magazine, or a playground fight - you know you shouldn't but you just can't help it.

UTB

 

[SOCRATES]

Assuming the role of lord of the manor and being patronizing to tradesmen is simply another form of arrogance. Woe be unto he who makes the grievous error of disagreeing with you, much less calling attention to one of your flaws. One hopes you'd understand that the consequences of irritating a tradesman would be far worse than antagonizing a member of T2W.

No, you do not understand either, and what is worse you do not understand that you do not understand. When the binmen pop in here for a mug of tea all of us are on christian name terms including some of my guys if they happen to be present which has happened many times.

Another thing we like to do is to pretend to be workmen and to get kitted up in overalls suitably splattered with paint and so on to have a change of atmosphere and we go off in a group in separate cars to have an egg and chips lunch in a bizzi workman's cafe, where we are able to talk freely and not in guarded whispers and be guaranteed no one understands what we are talking about including sensitive and valuable trading information.

The consequences of really irritating me would be dire if it happened face to face. You need not worry because you do not irritate me sufficiently. You yourself are smugly confident and so you make comments to me which are totally inappropriate and you persist in adressing me in familiar terms which are not justified as you and I have not met and although I visit your part of the world on a regular basis I will tell you I have no desire to meet you at all. But you only succeed in showing yourself up. You take comfort in the percieved anonymity you think your nick here gives you. One day you may get a shock as you cannot continue to behave the way you do indefinitely because one day you may get a real fright involving men in black absailing down your chimney.:cheesy:

So don't try to paint me as a snob because I am not one and go an learn some manners while you are at it, before you are overwhelmend by events of your own making and are taught all the facts of life in one go....Stoopid things you say....and always trying to stir trouble wherever you go.

 

[SOCRATES]

As DB points out - you fail to see what you've written above as arrogant (" you mean that you actually talk to road sweepers?") .

You can tell me all you want, but I'm actually not asking you. I'm perfectly happy with what I do. When I need to take steps forward I'll track people like Grey 1 and many others around these forum's, who are truly inspirational and give advice for free.

You serve as nothing more than a waiting room Hello magazine, or a playground fight - you know you shouldn't but you just can't help it.

UTB

As you look up to Grey 1 because of his expertise, do you see Grey 1 behaving like you ?
Do you see Grey 1 posting irrelevant off topic nonsense like you do ?
Do you see Grey 1 contrdicting me and disagreeing with me for the sake of it ?
No, you don't .
Why ?
Because Grey 1 acts professionally, and not like some spoilt upstart, that's why.
The same goes for all the other really expert and experienced members on this site.
You will realise that the really expert, experienced and consistently proficient members are not among my detractors.
Now, sit down, contemplate your navel, and think about it.

 

[FetteredChinos]

Another thing we like to do is to pretend to be workmen and to get kitted up in overalls suitably splattered with paint and so on to have a change of atmosphere and we go off in a group in separate cars to have an egg and chips lunch in a bizzi workman's cafe, where we are able to talk freely and not in guarded whispers and be guaranteed no one understands what we are talking about including sensitive and valuable trading information.

oh...my...god...

if this isnt a joke, this has to be the most condescending post you have ever made..

 

[the blades]

As you look up to Grey 1 because of his expertise, do you see Grey 1 behaving like you ?
Do you see Grey 1 posting irrelevant off topic nonsense like you do ?
Do you see Grey 1 contrdicting me and disagreeing with me for the sake of it ?
No, you don't .
Why ?
Because Grey 1 acts professionally, and not like some spoilt upstart, that's why.
The same goes for all the other really expert and experienced members on this site.
You will realise that the really expert, experienced and consistently proficient members are not among my detractors.
Now, sit down, contemplate your navel, and think about it.

They gain respect because they provide information whereby you can clearly see that they're proficient at what they do. They are also not consitantly rude to others, hidden behind the thinnest of veils.

You waffle on endlessly yet demand that you are respected and unchallenged. I've no doubt you have more detractors than you imagine, yet credit them they don't stoop to your level which unfortunately others (myself included) do.

re the "off topic" remark - I suggest you randomly select some of the extremely lengthy 4,000 posts you've made and "contemplate" what percentage of them are "on topic".

UTB

 

[dbphoenix]

Another thing we like to do is to pretend to be workmen and to get kitted up in overalls suitably splattered with paint and so on to have a change of atmosphere and we go off in a group in separate cars to have an egg and chips lunch in a bizzi workman's cafe

Amazing. Keep those fingers firmly implanted in those ears, bertie, and sing La La La just as loudly as you can.

 

[counter_violent]

He needs professional help....and soon if you ask me .... dressing up as workmen...I ask ya !

 

[roguetrader]

Another thing we like to do is to pretend to be workmen and to get kitted up in overalls suitably splattered

I had a girlfriend who liked to get dressed up in a nurse's unifiom, but that'a a whole other story.

 

[Jack o'Clubs]

Another thing we like to do is to pretend to be workmen and to get kitted up in overalls suitably splattered with paint and so on to have a change of atmosphere and we go off in a group in separate cars to have an egg and chips lunch in a bizzi workman's cafe, where we are able to talk freely and not in guarded whispers and be guaranteed no one understands what we are talking about including sensitive and valuable trading information.

Are you sure that you and CYOF are sufficiently convincing?

 

[trendie]

I think you guys are being incredibly unfair on Socco.
Who doesnt occasionally dress up for fun? ( problem is explaining to your other-half that you were practising for a Rocky Horror Show audition )

If Socco dressed as a workman, so be it.
The really intriguing thing would to guess who dressed up as Motorcylce cop, a Red Indian, and a cowboy.

Socco, a village, dressing up, its all making sense now.

 

[SOCRATES]

Are you sure that you and CYOF are sufficiently convincing?

Yes, that will do.....thanks....

 

[SOCRATES]

oh...my...god...

if this isnt a joke, this has to be the most condescending post you have ever made..

Not suitable for you Fettered....if you wear fettered chinos....they are probably apt to make you mince....not suitable....sorry.....:cheesy:

 

[SOCRATES]

He needs professional help....and soon if you ask me .... dressing up as workmen...I ask ya !

Yes...as I have had a terrific week once again...I am in the right mood to have fun with all of you......... .....hahahaha.

 

[SOCRATES]

Amazing. Keep those fingers firmly implanted in those ears, bertie, and sing La La La just as loudly as you can.

What are you doing here again ? Playing the fool on my thread again ? Why don't you post your graffitti somewhere else.....I have told you before you are not welcome here.....you have nothing of any merit to contribute, so clear off,........ ......... that's all... ...persistent nuisance you are.............. .............following me around like an obsessed thwarted mistress.... ....really !