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    Best options trading book?

    Stuart, Thanks for your input. Interestingly, I had stumbled upon Paul's website and was wondering about this article (or strategy) about Calendar condors. http://www.tradingoptionsvisually.com/experienced_article2.html Does he discuss this in the book? is he talking about Double...
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    Best options trading book?

    Read all these books mentioned and then some. Unless you want to learn the basics, almost all the books give the same idea. Yes, the presentation may be different, and explanation may be better, but ultimately you learn the strategies. I have found lot of sites and blogs for free giving the...
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    Low Risk/High Reward (60%+ per Year) Calendar Spread

    I am not sure which quotes you are referring to, and may be I am not clear about your objective, but let's consider the basic premise of the strategy. Calendar (and the related) spread strategy is a neutral strategy, that is expecting the underlying to remain in a range while we benefit from...
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    Low Risk/High Reward (60%+ per Year) Calendar Spread

    Walt, First of all, i strongly suggest to visit cdowis's thread where we had some good points discussed on the calendar spread strategy. http://www.elitetrader.com/vb/showthread.php?threadid=127805 Second, what you are suggesting is a double calendar spread which has its own limits...
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    The Monkey Calendar

    and Updated part 2 wiht updated OPO file.
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    The Monkey Calendar

    ok, here is the updated file (no change for part 1) I have to keep as it was.
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    The Monkey Calendar

    My intent is no direct comparison rather evaluation of various options. Look at part 2 last 2 pages, I have your position in there. I have removed part 1 as i noticed that in part 2 instead of Dbl calendar I had Dbl dig. sorry about that. I am trying to combine both parts in one, and...
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    The Monkey Calendar

    part 2 and scenario file. Comapre the Greeks, the breakevens, max profit/loss nos. for different strategies. This is just half the story. Whichever strategy seems favorable, create a plan, and using TOS past data see what happened and what could have been done to manage the position...
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    Covered call to reduce leverage on oil futures?

    and how do you protect 5 (or 15!) point move on the downside? CC is a limited hedge with a cap on the upside. Also check collar: http://www.meta-formula.com/future-options2.html
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    How To Hedge Using Collars

    Collar is strategy to follow if you already have the stock. Note that synthetically it is a vertical call. check this: http://mediaserver.thinkorswim.com/transcripts/collars.pdf Also, search for Slingshot collar strategy by RiskDoctor or check this...
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    The Monkey Calendar

    What strike? Usually with calendars you have better chances (than vertical) to survice. Wondering why you bailed out so fast.
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    The Monkey Calendar

    RedEyeFly, Don't miss the point of this thread which is to add a vertical instead of a second calendar. This will lower Delta and Vega and increase theta. Dan suggests adding another calendar. Each method has their own merits and risks.
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    noob question...wheres premium?

    Not sure how you paper traded - actually on your own paper or the dummy money paper account provided by the brokers such as Thinkorswim. Don't know about Scottrade how they allow paper tradng, but if you did not write, it is very hard to get the exact quote. TOS provides end of the day quotes...
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    The Monkey Calendar

    I agree on the thoughts. The reason of my question was that you closed the vertical. I have heard Dan too. He does advocate adjsutting in the mddle of BE and short strike. If RUT moved lower, instead of a second calendar, should the vertical be moved to lower strike?
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    The Monkey Calendar

    Do you think opening Double Calendar would have helped? Once the position is closed, the loss is booked. Instead of closing the shop, the hot dog vendor moves the stand .... Edit: OK I tried it and it helps give a room to move (the BE is lower), the Vega increases (no wonder). With the...
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    Hedging CVX CC upside

    Depends what is your objective. Considering the time left for July, what will you do if CVX is above 100 but below 105? You will be called out and 105 call may be worthless. The delta of 105 C is less (13) vs. delta of 100 C (38). So your 105 C July will not appreciate as much as 100 C. You...
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    The Monkey Calendar

    Yup, Thanks.
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    Iron Condor Strategy

    There is a ton of material totally FREE, from this forum to online articles. Don't be fooled by the claims - "secret". There is none. Research, Learn, Practice, Burn, and learn again!! You will get better. I am not sure of your level of expertise, but the name of the game is Risk...
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    The Monkey Calendar

    How did you have negative Theta? In your spreadsheet some of the months are not specified, so I don't want to assume anything.
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    The Perfect Option position

    Mike, Any update after your 2004 post (on page 29) on this. how did it go? Any improvment/suggestion?
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