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Mo and Doinna, interesting that you should consider open interest, or even the concept of the market or MM causing maximum pain, because my spread sheet friend also studied and correlated open interest to the SPX 100 pt condor and XEO 50 pt condor and discovered that in the last week you could...

Rdemyan, I dont want to get off topic too much, but started out in options , trading covered calls on stocks I had accumulated in a good siize IRA. Selling calls worked well for me in the 90's, since I didnt have a love affair with any of the stocks I owned. As you know there is little downside...

Andy , thanks, that is the best explanation I have had so far. My point is , like you, I will absolutely manage my current position, but I would like to analyze my profit or loss from the very beginning of the monthly trade. I think the Coach may want to broach the subject with these guys...

I have a question for any who might be programmers or real computer experts. I use TOS as my broker for trading SPX and other indices. Sometimes instead of Iron Condors , I enter with a butterfly, and then adjust it to a condor as the market trends. I have even had to adjust a third time by...

Andy, I'm checking out MNX due to several issues mentioned here before. The product is traded on several exchanges, unlike SPX, that means more competitive pricing, easier fills, and possibly a better chance to bail without getting skinned alive by the MM and the huge bid and ask spread when...

I have to agree with you that if there is still premium late in the game, it is due to the increased risk of being in the money. It is however all a balancing act of risk , reward , theta, probabilities, and directional diagnosis, so pick your poison. Lately , I have been more a buyer of...

A statistically oriented trader I know did an Exel spread sheet on the Iron Condor strategy on both of the indices. The results, going back to the 80's was that the 100 point spread on the SPX[distance between the sells] , and the 50 pt spread on the Xeo or OEX, had greater than 92% success...

I really think that if you had no understanding of the set and its consequences, you have no business trading this product. Its akin to taking an exam without having read the material!