Caveat Emptor

We all know that is Latin for ‘Let the buyer beware”. It certainly applies to the stock market so far. But then, I never in my life thought the Dow would hit 23,000 so don't ever ask me about market direction. But what I do know a great deal about is options and...

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When I Was a Market Maker

Looks to be a quiet day in the market , so I got to remembering days long gone by… I also attended a very interesting conference on cryptocurrencies this week hosted by FinTank, a leader in blending technology and trading. Well, it reminded me what an old dinasour I...

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Early Exercise and Assignment

Let’s keep in mind that American style options, unlike European style options may be exercised at any moment in their lifetime. As said above, stock options are American style and it is good to know when an option is likely to be exercised ahead of the expiration...

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How to Set Up For a Big Time Market Puke

Hey, I have been in this business since 1976 and I *never* seen as unrelenting a bull market as this one. The market shrugs off everything. Natural disasters, a loony tune president who seems hell bent on starting a nuclear war. Nothing matters. Let's just buy and buy...

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A Digression From Options, Sort Of.

I want to talk for a moment about so-called "crypto-currencies" Bitcoin being the most famous example. I don't believe in their value and consider Bitcoin to be a bubble akin to the Tulip Bubble in 17th century Holland. But, so what? They are out there, they exist and...

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Welcome to 5778!

  It is Rosh Hashonah, the Jewish New Year and I would like to wish all of my readers the happiest, healthiest and most productive 5778 (kind of puts 2017 into perspective as far as time goes, doesn't it?). As this week is a holiday time between Rosh Hashonah and...

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Market Commentary

Sometimes social/political stuff thrown in for good measure