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Comments:
<0> when calls get deeply in the money
<0> the time value by then is so small anyway
<0> that any new gains in the share
<0> will almost fully be picked up by the call
<0> since there is almost no time value to erode anyway
<0> so then they say the call's delta is close to 1
<0> it's more or less mathcing the shares
<0> so you can think of the time value as paying for leverage
<0> you commit small amount of capital
<0> and get full participation of the upside
<1> k
<0> when you're deep in the money, you commit more capital, so less leverage is employed
<1> because of the time value of $
<0> yeah
<0> same with futures
<1> so delta is like a measure of the time value of $?
<1> indirectly?
<0> if you wanna buy futures from me i will ask for a higher price than the spot
<0> since you get the have exposure without committing any capital
<0> so i will demand some of the upside
<0> delta?
<0> well
<0> it's a consequence of time value, i guess
<1> what's the range on Delta?
<0> delta basically says, how much of the share's movement you pick up
<1> 0 - 2 ?
<0> 0 to 1
<1> ok
<1> 1 being full 1:1 movement?
<0> yeah, then you get full participation
<0> when you have lots of time value left, it's more sensitive to being eroded
<1> futures are more for those that are in the business of those comodities
<0> so then the delta is smaller
<0> depends
<1> the world of derivatives
<0> some people speculate in them without having any commercial interest in the commodities
<0> and besides, most futures traded in the world are based on financial instruments
<1> currencies
<0> stock indices, interest rates, currencies, bonds, you name it
<0> yeah
<0> you can get them on individual shares too
<1> like that UK rock singer David Bowe?
<1> was the 1st in history?
<1> buy a futures contract on his potential earnings
<0> really?
<0> i haven't heard this story
<1> many years ago
<1> he's like on of UK's richest people
<1> on a different topic.. your nick nomad
<1> do you happen to own a 1955 Chevrolet Nomad?
<0> no
<0> haven't even heard of it
<1> famous
<1> i mean the "Nomad" was the 1st ever station wagon made in history
<0> really?
<1> you bet
<0> didn't know that
<1> GM only made around 8000
<1> if you had a mint showroom condition Nomad today.. easily worth over $100K usd
<1> like old C1 Corvette
<0> not bad
<0> in .au you don't pay any CGT on cars
<0> heh
<1> CGT?
<1> you in Australia?
<0> yeah, capital gains tax
<0> and yes i am
<1> i have an uncle that lives in the Gold Coast
<1> Burleigh Heads
<1> i'm in New Zealand
<0> i mean, the whole CGT and cars issue is just a gimmick
<1> apparently he's a land tycoon and some new sales tax law was p***ed on property?
<0> i mean how many cars are you able to sell for a price higher than what you bought them?
<0> not many
<0> just rare antiques like this nomad, if in good condition
<1> i'm sure there are a lot of $$$ Bathurst models
<1> oh some old Monaros
<1> i've heard of Australians coming over to NZ and buying up old cl***ics
<0> dunno, maybe it's some queensland law
<0> the stamp duty and all that is pretty harsh here
<1> i've heard
<0> i don't know if all those taxes are just when you buy
<1> and income tax is high too
<0> or when you buy and sell
<1> capital gains is treated as full income in Aus?
<0> more or less
<1> that's got to ****
<0> you get a 50% discount if you hold the ***et for more than a year
<0> and you can only offset capital losses against capital gains
<0> not against other income
<0> but other than that it's more or less regular income
<1> so if you buy a bunch of houses
<1> held all of them for more than a year.. you can sell all of them and be taxed 50% of the gain?
<0> right
<0> the other 50% would be tax free
<1> similar to Canada except there's not 1 year hold down period
<1> all forms of capital gain is 50%
<0> also of course you wouldn't be taxed on any of the stamp duty
<0> title transfer
<0> etc.
<0> all those taxes would be subtracted from the gain before you apply the 50% discount
<1> but I think my uncle was concern about the 'sales tax' on houses
<1> you call 'stamp duty'
<0> i think stamp duty is only when you buy
<0> not sell
<0> the sales tax might be something else
<1> in NZ, there's no capital gains tax at all if can be shown the purchases were not speculative
<2> .metals
<1> but your corporate tax is lower in Aus.
<2> is there any commands for this channel to bring up info ?
<1> ya
<1> .q YHOO
<3> YHOO (yahoo inc) last: 35.1799 0.00 0.00%, range: N/A-N/A, vol: 0
<2> k nice, how bout metals or indexes ?
<1> as long as you have the ticker name
<0> 30% here
<2> .q EP
<3> EP (el paso corporati) last: 13.35 0.00 0.00%, range: N/A-N/A, vol: 0
<0> what metals do you want?
<1> nomad: 33% here and in Canada (my 1st home) it's 22%
<2> gold silver palladium
<0> do you want a broad commodity index or something?
<0> like GSCI?
<0> you can get futures prices on the NYMEX at www.nymex.com
<0> the usually quoted price is the spot month price, now it would be march 06
<2> .q es
<2> .q nuf
<3> NUF (nuveen fla qlty f) last: 14.12 0.00 0.00%, range: N/A-N/A, vol: 0
<2> .q nuf.ax
<3> NUF.AX (nufarm fpo) last: 11.460 -0.040 -0.35% , range: 11.310-11.500, vol: 397039
<2> .q metals
<2> .q swks
<3> SWKS (skyworks solution) last: 5.51 0.00 0.00%, range: N/A-N/A, vol: 0
<2> .q dyn
<3> DYN (dynegy inc hldg c) last: 5.46 0.00 0.00%, range: N/A-N/A, vol: 0
<2> .q tasr
<3> TASR (taser intl inc) last: 8.32 0.00 0.00%, range: N/A-N/A, vol: 0
<2> do this place have streaming news awswel ?
<4> .news ABT
<4> !news ABT
<4> .link mcz
<3> ABT NEWS: Abbott role in Guidant bid seen as devices play URL: http://tinyurl.com/cvvo9
<2> .q $gold
<4> .gold
<3> Gold - 540.2
<2> cheers
<4> :)
<2> 540 is that wrong or what
<2> it was 550
<4> yeah gold is usually wrong here for some reason
<2> i know it went down 20 bucks but i also know it went back up 10
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