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Thanks for the reply. When you file tax return, what paper record do you keep then in case you get audited by IRS?

I used to have small number of trades per year with Ameritrade per year, so I would print out a buy trade confirmation sheet when I purchase, and print out another sold trade confirmation when I close out the trade. I stabled two sheets and store in a 3 hole binder. I keep a spreadsheet also...

Newbie questions: I. Is SPX cach settled? 2. American style or European style? 3. What is the risk for each one point (or 10 points) strike difference? meaning, for each Bear Call Spread like this +1265C/ - 1255C, how is the risk calculated? Thanks

I just noticed today that using TWS, all spread orders are DAY orders. There are no GTC order type available. Made a quick call to IB customer support and they confirmed that. Looks like I will need to resubmit the order the next day if I still want it.

GOOG is down from the high of $470 or so in January to today's close at around $374. I have a Sept $380 put. The increase of PUT value can not offset the stock value that I lost. This is the put protection I have for the stock. Is this because of the delta value of my put which is about -45...

I have all three. If I needed to trade more than 20 contracts with spread orders, I sometimes would use Ameritrade. Mine is Ameritrade Izone. Option commission is something like $5 + $0.75 per contract. The reason for that is I can use web feature on Ameritrade Izone to put together a...

This is purely an observation and not a comment of any sort. I was thinking of this last night and did a mental calculation. I am currently working in an IT field as a full time professional. I have been doing this close to 20 years now. My current salary and other conpensation total in...

Coach, Great thread. Will you consider a FAQ page so newbies do not have to read thru all of the 1000 pages? Thanks

(I typed a reply but not sure what happened to it. Here it is again.) Thanks for the suggestion. I am taking it in for furture consideration. My original trade (stock, put, and call) were done on the same day. This was kind of an experiemnt. If my put expires, and stock gets called away...

I have just enough GOOG to purchase one put and sold one covered call. I am still trying to understand the way to trade collar strategy. Correctly or not, this is what I have done. Maybe, some of you more experienced traders can point to me what I have done wrong. I already know that...

Satanama, thanks for posting this link. I read thru their strategy and it looks better than my buy/hold and CC. I wonder why they put up the site with no advertising. I imagine Lord's $300 dollar book must be some similar strategy than this.

My motivation of understanding this managed collar strategy is because of our ESPP stocks for both myself and my wife's. A large portion of them are in regular accounts and not in IRA. For whatever reason, people are emotionally attached to their stocks. So am I, I guess, specially these...

I see how you liked the book. :) Well, it is supposed to be some kind of "managed collar strategy". You own or buy stocks, then buy puts for protection. Instead of selling calls right away like the basic collar strategy, you would wait until neutral or bearish then sell calls. When...

I have seen this book being mentioned in Optionetics, but I can't seem to find the website that sells this book. I heard it is $300 a copy. Has anyone read or heard about this book? What is your opinion about it?

Coach, You said for beginners, it is better to try to trade 1 or 2 contracts first. If the credit for one 1140/1150 put spread is, say, $0.50. The total credit received will be just $50.00. And the risk is the spread of two strikes which is $1000 in this case. Is my math correct?