Recent content by modegolf

Hi Coach, For the record, you have helped me become a very successful spread investor. AND your coaching was FREE. Thank you very much. Regarding hedging...I have found (thanks to you) that buying puts/calls when the underlying hits my "trigger", I have a way to finance adjustments if I...

Hi Coach, Thanks for your selfless postings! Will you please share your philosophy on hedging vs adjusting credit spreads when the underlying moves against you? From your comments, it looks like you: 1. Identify a "mental trigger" for the underlying, 2. Hedge sometimes when the...

Hi Coach, In this thread, you have shared some "scalp" trades you have made close to expiration. Would you please elaborate on the conditions you look for when scalping. For example, how far OTM, what is an acceptable credit, how many days out, etc. Thank you for helping me improve...

Hi Coach, As always, great thread! You have shared your approach for getting good fills, but I have not seen in the thread where you discuss your closing out approach. Do you use the same approach when closing a position (shoot for the midpoint then shave off a nickel or a dime)...

Hi Coach, Please help me here. I have studied the math behind options and fully understand the "greeks". In the past, I have bought and sold lots of options based on the greeks, and a huge swing in the market that impacted the underlying made all that analysis worthless (I lost money)...

Hi Coach, Thanks for your continued sharing of your trading experience. When adjusting a credit spread because the underlying index is moving against you, do you ever roll OUT to the next month (either at the same strike or one further away from the underlying)? Thanks, modegolf

Hi Coach, Thanks for your time. You have stated that if you are in an iron condor and the underlying moves significantly against one side, then you would consider closing out or rolling the threatened side AND rolling the other side in the direction of the move as an adjustment strategy...

Wow Coach, you sure have a lot of people "excited" about your methods! For what it is worth, I have made a lot of REAL CASH using your methods. Big smile to you! To move on...there are several indexes (OEX, NDX, XEO, SPY, etc.) that offer similar opportunities to make REAL CASH selling...

Hi Coach, I often give into the temptation of turning credit spreads into iron condors because there is no additional margin requirement and you can often double your return. What kind of things do you look for and require before pulling the trigger and turning a bull put spread (or bear...

Hi Coach, Thanks for continuing an immensely valuable thread. When way OTM and watching the underlying, when do you recommend adding a partial hedge? I am developing my rules for trading the SPX and would really appreciate your thoughts here. Also, do you continue to expect a Fall...

Hi Coach, Your insights have helped me make very good profits the last three months. Thank you! 1) After studying your excellent book, I see the adjustments for credit spreads (or naked options) are limited. What do you think about "doubling down" as the underlying approaches the short...

Hi Phil, I have been reading your book and consider it a MUST HAVE for any options investor. It has already paid for itself with the insights it provides. A question for you regarding forecasting: "When choosing put/call spreads on the SPX for a credit, how do you forecast the...

Hi Phil, Your response to Andy answered my question regarding adjusting...so no need to reply. Thanks, modegolf

Hi Phil, Your thread is one of the most useful out there! Thank you for sharing your experience. When the underlying moves against a position, you have mentioned rolling up/down to a further out set of strikes, closing the position, or "buying insurance" (hedging by buying SPY options)...

Hi Phil, Thanks for a great thread! Two quick questions for you. 1. At the beginning of the month, do you typically wait for a large move up or down in the SPX before entering a new position, or do you enter as soon as you can get the credit and distance OTM you desire? 2. Over the...