Recent content by RichardRimes

so...it is OBVIOUS we are going to close out DEC op ex with 2050 or above so no one will notice the 100 pt correction we had between NOV and DEC...OMG what a racket!

nice to see vol back...sold puts aggressively early this am...left for a couple of hours and was kinda surprised to see so much ground covered....hopefully enough movement to trade the ES this week...

Karma's a bitch ain't it Bill..................

...or not... 60 might be a good level to BTFD for a day trade

not that easy..buying the breakout today would not have been pretty....

SET 2075.42...up 35.55...days like today I am sooooooo happy I no longer trade SPX! Bunch of a&%holes... dunno.... trvlwander but next week could actually be interesting. Today's upthrust causing shorts to upchuck may self correct next week esp because of expectations are for a calm pre...

certainly it is...I was responding specifically to your thought that you wanted something neutral...IOW you didn't expect much change in the underlying...in that case why pick a direction..selling a straddle IS a neutral strat..you are not expecting much movement ...again perhaps not the best...

you KNOW it has to tag 50......

short spread=long spread....there is no greater risk in a short spread than long spread. It is all in how you manage it. What I'm trying to say is when you put on a spread (short or long) you have to buy two legs so the commission and/or slippage is greater than buying/selling a single strike...

It really depends on what you are trading....options futures are good to use for that purpose, sure if you want to make a day trade then selling a straddle may work nice...spreads just arn't cost effective/efficient IMO for day trading.

Agree...anywhere flat today and up bias intact. Did see something interesting look at the open interest for the 1st week in dec.....someone wants a 15000 straddle (buy/sell) at the 2025 the single little contract actually traded on the 2020 call side was tiny little me. :)

I think Big Hog would have had a good laugh........... back on track...ES plan for the week...hummm options Expiration This week..Turkey Day around the corner bodes well (usually) for the market...so slight bias to the upside.

Man, I'm so sorry for your loss as well as ET's loss. He WAS the real deal and I was jealous that he mentored you...I once PM'd him but got no reply so decided he was too busy...anywhoo...I still enjoyed his posts and learned a lot from him. :(

exactly...if you are day trading just trade the underlying...better bang for the buck

P...when you are trading option spreads in the ES with a few days to expiration you are essentially trading the underlying.. as if you were buying or selling ES cash. As Arch says you trade spreads to basically utilize theta or vol. Of course a spread will cut margin risk and define your loss...