No, I'm not. Because you haven't defined the time period you're playing with, nor how close to expiry you like to get when making your bets.
...and for that matter, you haven't even defined what commodities you're hedging; let alone the size of your positions.
Seems to me Black-Scholes got LTCM in trouble; make sure you haven't bit off more than you can chew (i.e. if you'd already *made* your killing you wouldn't be babbling about having to keep up with developments or risk getting fired; and B-S options theory is hardly "new").
Gee, I can do math too.
If you could do math, you'd add the numbers for your 80-90 hours per week for 10 years to figure out your average hourly rate for all the trading.
Hope it's been worth it.
The difference between you guys and me is that I’m not threatened by younger people, I embrace them and teach them what I know and tell them to build on it.
Which is no doubt why you keep shouting at Eaker that you'd learn and take his job: because you are SO successful at Black-Scholes that you no longer need to work?
Myself, I'm not threatened by younger people. I get annoyed by poseurs on FR.
And that applies to generational threads as well as Perrywinkles.
Because the older I get, the more I realize the less I know, and that with every tick of the clock I become more of a relic each and every day. Anybody truly in the game feels the same clock ticking.
Which no doubt is why you *attempted* to goad us, it's a way of trying to convince yourself of your own relevance and virility.
Here's a clue: Not everyone is motivated by the same things. And not everyone measures themselves by whether they are "in the game" : for those who don't play, it's called the rat race. I've seen enough to know, the things that matter in life are your relation to Christ, and your relations with family. Think of Ty Cobb on his deathbed, kissing his certificates for $12 million in Coca-Cola stock.
You can't take it with you: so don't try so hard to get it.
Nice chatting with you boys, I needed some light work before bed to get my mind sharp for the market open tomorrow. Thanks for being my pawns.
I'll have forgotten about you within ten minutes. But that doesn't let you off from making sure the rest of YOUR life is in order.
Cheers!
You guys can't keep your story straight. First I'm a worthless punk know-nothing slacker who lives in his momma's basement and hasn't done an honest days work in my life, next I worked TOO MANY hours to become successful and am a worthless punk-ass poseur who's motivated by the wrong things because I worked TOO hard.
Absolute, quintessential baby-boomer. Come out shooting your mouth off about how nobody knows how to do anything, then when somebody pipes up that actually knows something you move the goal posts and tell them they got their priorities wrong. That just highlights the delusional mental integrity issues of that generation.
Grey_whiskers - seriously, did you type in options on Google so you could pretend to be an expert? Sure seems that way by the number of times you said 'Black-Scholes' to show how smart you are. This perfectly illustrates the egotistical penis-waving boomer and why the world is so tired of their know-it-all peter pan attitude.
No, I'm not. Because you haven't defined the time period you're playing with, nor how close to expiry you like to get when making your bets. ...and for that matter, you haven't even defined what commodities you're hedging; let alone the size of your positions.
If you knew what you talking about instead of trying to be a google expert, you'd realize that it's an asinine statement. How close I get to expiry is already defined by theta, I know the time decay value. What I'm trying to determine is whether the size and speed of the move will overcome that.
Which is why I also mentioned skew and kurtosis, because I'm not talking about hedging, I'm talking about buying open puts and calls. Which if you knew anything about what you were talking about, you would have known what I was talking about and never said anything about hedging. You also have to factor the change in the implied volatility over the move to know if you are going to make a profit, in addition to the theta and delta/gamma. All this was outlined in the excellent works of DeMark and Natenburg who pioneered day trading open options, something you won't find on google.
You guys are like another glorious icon of your generation - Al Gore. Say anything, even if it contradicts what you said 5 minutes before, because who cares about your integrity as long as you 'win' the argument. Jesus walks on water? Well Jesus can't swim! He ain't got nothin' on me, cuz he ain't no baby boomer!
Now I know why your parents generation thought you guys were a bunch of spoiled, over-educated punks.