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I bet it'll work out well again after the churning settles down, but I did notice that it seemed to start spitting trades out a lot more often in the past few weeks. Maybe it needs a cool down period as the VIX starts ramping up =). I don't feel like I could ever trust a trading system...

Yes, premiums start to converge at further OTM, For example. XYZ at $100. Calls at 100 and 105 will have larger premium difference (say $7.5 and $4, diff of $3.5), but calls at 110 and 115 will have smaller premium difference (say $2.5 and $1, diff of $1.5). Basically further OTM is less...

This is a poor use of the reverse iron condor. The premiums are too high, you have to go further OTM where you are paying less than $5 for the whole thing. The way you make money on this trade is when GOOG ends up outside your furthest strikes and you collect the $5 on that side. With strikes...

If you sold calls for the front week then on monday your account will be credited (on margin) the cost of buying the 100 shares at the strike price, and then you will be short 100 shares for each contract. If the stock doesn't gap and you cover ASAP monday it should be equivalent to covering...

Placed an order for 5 KMX 35/34 apr 5 weekly put spreads that got filled at $.50 before close as well as 6 MON 85 Apr 21 calls at $.78. Looks like I missed the boat on CONN, up 7+% today. I'm too chicken to place a trade on BBBY although I agree with Atticus that they'll probably miss.

Butterfly's are buying a bull call spread and selling a bull call spread. It doesn't have to be ATM but those are always cheapest due to the ATM having the most vol premium (vega? I don't know the greeks, not really interested at this point) The goal is for the bull call you bought to expire...

Haven't we already been through this? Let's get back to the topic at hand gentleman. Who wants to throw out ideas on earnings plays for KMX, MON, BBBY and possibly CONN as a short squeeze candidate next week?

Well played, when you say $0.33 on the shorts does that imply 2x$0.155? Yep, I was in for 25 flys risking $450. Netted $1410 after unloading the 15's for $.02 and commissions. Now I gotta take a week off or something, whenever I have a big winner I have a habit of going extra big on a loser.

Was so nervous cuz I saw it opened just where we wanted but I was driving into work so I couldn't place my order and missed the first 15 minutes of action, but luckily I was still able to close for $.57 from $.18, so booked a 3x gain, good call! I kept the 15 calls but expect them to expire...

I found my answer, http://blogs.barrons.com/techtraderdaily/2012/03/29/rimm-halted-ahead-of-fyq4/?mod=yahoobarrons shares will resume trading in afterhours at 5:10 ET. Interesting, I've never seen shares halted only during after hours.

Why do you say losses, does the halt mean the stock tanked? The after hours quotes don't seem to indicate that but I don't know what to look at when shares are halted. When will it be lifted?

$35 commissions!?!?!

Tempting, placed order for 25 flys at $.18 each, we'll see if it gets filled over lunch.

Agreed, a new thread can be spawned for falconview and other's Q&A, and lets get back to the original intent of this thread. Seems we may have lost ryan at this point.

Yeah, I figured he'd clear that up for us too when responding. I'm guessing he meant puts since he had said he was going to try to buy ORCL puts in an earlier post.

I'm interested to know where you are at with this and the ORCL trades? My biggest problem right now is with exit strategies so I'm looking for insight on if/how you handled today's swings. I'm guessing that due to the the nature of volatility trading you don't typically have predefined...

Turn in into an Iron condor: http://www.theoptionsguide.com/iron-condor.aspx, It's like buying insurance., you collect less premiums but the losses are capped in a raging bull or bear situation. EX: buy a 15 put and 45 call so your loss is limited to $5 (20-15 on the put or 45-40 on the call)

My bad, I was looking at the Mar 30, not 23rd.

Those prices are for the 65/64 put spread. The 66/65 spread would cost $0.30, returning close to the 3.5x with AAPL.