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I'll let someone from the Church of the Greeks answer that. I only do long calls or puts.

Read this article: http://www.investopedia.com/articles/optioninvestor/05/020205.asp Scroll down to: Long Calls at Market Bottoms Are "Expensive" and then: Long Puts at Market Tops Are "Cheap"

Finally. You understand now. Just know that the Put option Demand fluctuations will typically not confound your strategy as much (refering to top-fishing). Happy Trading.

This only applies to someone who is in a position to "let profits run". If you look at FHN, you'll see he's a bottom fisher = he's part of the Herd as I suspected.

I do not want to overlook learning something beneficial, therefore I would like you to explain your "method". Are you just calculating the IV at the EOD for the next day? If so, how is that useful for 1-2 week long swing trades?

By the way, to know more about these Demand fluctuations, read about Volatility Skew.

Okay fine, your timing is great with stocks. Here's why your results are all over the place with options: Supply and Demand - specifically Demand. Like I said before, you will need to think for yourself and quit chanting the Dogma of the Church of the Greeks. Implied Volatility is the religious...

Been around since March: http://www.cboe.com/micro/mini/

You can buy twice, even thrice, as many ATM as you can DITM.

sonoma, I'm not trying to make it difficult for you to answer what you consider "Good ROI" is. So forget daytrade. Please tell me your experience with 1-2 week trades then. Or, whatever trade duration you want to explain "Good ROI". For instance, is it normal for you to make 30-50% ROI with...

Your confidence has piqued my curiosity to ask you, what is your definition of "Good ROI"? I know that this would be hard for anyone to answer without using an example scenerio, so let's just use a daytrade as an example. Pick whatever underlying stock you want - what ROI would you claim to be...

If you can predict direction, then just buy ATM Calls or Puts - forget about spreads.

I read your other posts (not many). Your problem is clear - you lack the balls to just go for it. I say, you have practiced long enough. Quit paper trading, and just do it already!

Thank you. This is on point, and is much appreciated. SPAN is something I remember in another thread but have not taken the time to learn about since the concept of margin leverage for options seems a non-sequitur to me. I will check into that now. Thanks.

Once again, a very bookish comment. But that's okay. You can believe that the Greeks are well established. And I can believe that the Greeks are crap. We are all free to believe what we want. I would just like to point out that you are the one to "claim" that there is "No Edge" to weeklies based...

"Experience without theory is blind, but theory without experience is mere intellectual play." ~ Immanuel Kant My knowledge of Weeklies makes me money. Your knowledge of Weeklies makes you feel smart. We both make a choice to satisfy our own egos.

UPDATE: I've spent a week learning Forex and toying with Oanda's fxTrade Practice platform. Here is some of my conclusions: 1. Weekly Options is no doubt the winner (in the short term) a) it feels to me around 2 to 3 times more powerful than FX 2. but 50:1 Forex is a very good...

Which is what has been a great attraction to me lately. Do you find SPY options to be better than SPX's somehow? I guess I do not understand why do SPY options, or is it because your account is small? (you do not have to answer that if you do not want) Yes, I just learned that today. Same with...

Wow, you actually guessed my current problem. My love of Weeklies is a love-hate relationship - not enough Bid/Ask volume.

Well I never expected that answer. Interesting. Okay, I'll check into it that too then. I mean, a chart's a chart, right? I just hope the volume is up there too. Thanks.