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So for a very newbie question then,

If on Thursday and Friday you are getting almost four days of theta decay, why not always buy options on Mon, Tues, and Wed and sell on Thurs and Fri.

Here is a bit of advice for all you traders. When you are thinking about opening a new income positions (theta positive) don’t open it on a Friday afternoon.

Hi,
Congrats on the new site, I'm sure that with time it will rock.

Mark:

Here is a question for you. MCD has earnings coming up - The front month/back month skew in the puts and the calls is different. In the puts it is under 1 and in the calls it is over 3%.

I've been hypothisizing that the market is in slowdown mode, If I am right some helpful evidence would be a slow rest of the week.

If the VIX is heading back down what is with the volatility pop today? It is actually pretty easy to explain.

Should you divide gamma by 2?

no you divide the price by 2 and straddle the opening price. If you divide the gamma by two you wont be scalping near enough stock or options.

I’m in the process of learning about volatility and option pricing so forgive my ignorance but would it be fair to say that you are looking for positions that provide a credit so as to be short IV?

I have a lot of people ask me how I used to scalp gamma. To me it was always pretty simple.