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Yeah, I'll wait for 2 days closing below 1340 or a significant 2-3% close below 1340 to call it a correction.....1340 and 1350 are key numbers for me now. As of the earning trades, here's what I've adjusted to now.....I'll stay as close to at the money as possible, so either strike above or...

Thanks for the chart, at times I'm just too lazy to pull up SPX at all. But it looks easier to predict after viewing that chart. Looks to me like a break below 1340 pushes us back lower and test 1331, while breaking above 1350 will probably take us to that 1370 target of yours. Otherwise, we...

Whoa....anyone else watched AAPL today? I saw it at $523 and thought it would be nice if I just put 1-2 contracts on the put side to see if it woulf reverse lol.....I wanted to wait for next week's option expiration before entering, but didn't expect a -30 point move from that intraday level I...

I see it the point now lol....yeah, this one's a wild card one....I bought 200 shares on that 40% earning trade run up last year, which is why I came back to it this time around. I was all stock so I actually held onto it through the post earnings day too before dumping, but putting about $9000...

Now, this strangle looks much better....ACOM is at -5% AH, and the past 4 quarters the shares have gone at least 5% in the same direction throughout the following day. I like the odds on this trade, I think we see at least $25 if not lower at some point tomorrow.

Same here, I felt that too after putting up some crap like that using credit to buy back shares when the company's guidance are not strong....I clearly felt the puts were going to get paid off on the strangle play, until that crap crossed the line...But that's the wild card in these plays.

Yeah, definitely not saying it won't drop below $72, but just mentioning that odds of falling below $72 in the next 4-5 weeks is very low, maybe no more than 20% percent chance, and that's if we get a broad market correction of 10% or more. My point was they played this card now to hold the...

Still not getting your point. It seems like you're saying I should have just watched it from the sideline??? Yea maybe, MAYBE I SHOULD HAVE WATCHED NFLX, GMCR, RAX, AND FOSL ALL FROM THE SIDELINE TOO....HECK CAN'T LOSING MONEY BY WATCHING THEM ON THE SIDELINE....:D :D :D

Let's test another hig beta strangle....this time I'm using ACOM Feb 27.5 put and 30 call. I bought 2 contracts of the strangle for -379.90. I like the upside, but say the market's reversal today holds and tomorrow the market trends down again.....A slight miss on ACOM would push it back to...

That's what I thought too....and it should have happened already with the way the shares were set to push lower yesterday afternoon. But remember, WTW did launch that modify dutch action to buy its own stock back at no less than $72 to $83. The launch starts next week and lasts for 20 days...

I leaning towards ACOM calls and NTAP puts.....I know I've made money shorting NTAP stock the past 2 quarterly report. The risk is higher this time around as eventually NTAP will guide above estimates. But, I'll still have to go with what the charts give me and its screaming puts. As for...

Yeah, I woud have taken the trade, but the end result would have been -350 or so instead of -507. the put spread would have costed 200 and I would have gotten around 140-160 back from the put spread. limiting the loss. Limiting losses make a big difference.

Well, net loss came to -507. Did I miss something? It looks like the Dow is weaker than the other indexes? What's holding the Dow down?

Jeff, I'll keep you updated on these strangles and straddle plays....I still want to see how it plays out over the course of say 6 months. I won't put the play on every trade, but when I get a 50/50 on direction, I will test it our with 1 contract in either direction. I consider WTW a high...

As for a weigh down forex, this was just a little under $700 in total risk. If there were a day that would have weighed down on me, it would have been GOOG and PH when I took about a $1500 loss early in when my account was barely at $4000. At this point in time, my confidence in these option...

What? Not getting? I was well prepared to take the full loss...if you don't risk anything then you wouldn't expect to receive anything back. Still, like I mentioned before, my preferred trade would have been spreads on WTW....at least on the downside. After rereading WTW's announcement...

Sorry it is 7M, I get mine from www.nasdaq.com. I think it shows up on that site first, but I must have looked at another stock's short interest, and then I confirm the % float at www.finviz.com

The way WTW closed out AH, not sure if it can make a 10% pop tomorrow, but sure liked the way it dropped to $67 or its AH highs at $84. If any of those two price points can hold, I'll take this as a positive. As for in over my head on this trade, sure....the odds are clearly against me here...

Yeah I see the higher risk involved, but I consider the trade today a test of that strangle...Truthfully, I would have rather set up a debit spread on the put and leave the long call open, but I want to see the strangle play out, and like I mentioned earlier, RAX +1394, and FOSL +1134 in profits...

I'm not even going to mess with DE lol....although I would have loved DE feb 87.5 calls at 2.00. All attention to the WTW strangle, but only 1 contract on each side, so far I'm only looking at an initial risk of about $650-$700. I'll consider recouping $500 a positive on the trade.