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My original post was meant to be within the context of day trading the bonds futures contract. The common - but certainly not my! - practice, before an event, is to set an order either side of the market, so that when one is filled the other becomes the stop. Judgment is required, not to mention a few other things, to get away with this. Using options is also difficult because of all the 'greeks' and the slippage and the numbers game makes it more tricky. The pit, as I have said, do not make this type of trade easy to execute, successfully.
But with 'ordinary' contracts, when you see which way the market is going, after the report, the pumped up volatility helps you when you step aboard in the right direction. The liquidity and normal one tick bid/ask spread, combined with fast communication with the orders, is all on your side. Little sweat or tears, but much concentration on the map and measuring the movement within the resistance and support, as the price action and patterns point the way...
Incidentally, Delta Neutral was a big thing with an outfit called Opionetics, but as far as I can see it is quite complicated, if not exacting, and there seems to be a disparity when it comes to theory and fact, so that the main winners tend to be the big boys. But if anyone on this list can show you how do to it, it is Ira...
Simply...
Bill Eykyn
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