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In case anybody doesn't know where to get the SPX settlement price, it is symbol ^SET on Yahoo Finance. Good luck to all.

Ouch. This one's getting close. I have it as about a -$9,000 loss if closed at current quotes right now and the Auggie call spread is about -$18,000 in the red. Still lots of time on the Aug tho. Since settlement is tomorrow morning, you'll probably be fine...but there IS about a...

You can do quite a bit of backtesting there just by signing up. You can try other systems or write your own and test them for free on the site. It's limited compared to purchasing the s/w, but it's doable.

This seems like another HankMarketSurferSpammer thread...:p Throwing out the above system "performance" on ET, is gonna be like throwing some kittens to a pack of pitbulls...

If you have to ask... you can't afford it! :D

What is "best" is open to much debate, but I can say that you could start with this and it will work: Broker: Interactive Brokers - They have a easy to use API and it is open and free and easily hooks to the below software. Software: MS Visual Studios (C++, VB, C#, etc - doesn't matter...

Very true. And another take away from the data, is the idea that if you fell asleep at the wheel and the SPX managed to hit Phil's long strike (for example on the bear call spreads) which may only be about 7-9% from the initiation point, a real chunky loss of about 24 times the credit...

No, I didn't calc that. Should be easy enough to throw into Excel and drag out the Mean, Standard Devs, etc. If you are an Excel weenie... :)

The SPX data is from TC2000. I just ran a quicky script on it to show the expiration changes.

For data miners and SPX traders, here are the Expiration-to-Expiration percentage changes for SP500 for the last 10 years. The data is calculated from Close on the Friday of expiration week, so it is not quite the Friday morning "settlement" number. Should be good enough to checkout a few...

Maybe I can help you. My father was a general in the Nigerian Army. He saved a lot of money ($10.7 millions), but unfortunately he didn't pay his taxes. The money is hidden in a special account at the Nigerian National Bank and Trust. I am an Accounts Manager there, so I can gain access to...

Phil, On your 1260/1275 call spread, with the SPX @ 1217 the loss on this position is currently about $11K, if closed out at the split @ 2.65/1.1 (-$17825 + $6900 = -$10925). Of course you already banked a nice gain from the put side, so the -$11K is no big deal, but at what point would...

Thanks Phil. You definitely have a "real world" view of risk and loss IMHO, from a real trader - this is not something you find in most books. I may have to try this strategy again. I ran something similar on the QQQ/NDX/MNX in 2000 - 2001, but those 70% drops kind of scared me off of...

Phil, thanks for showing these trades. A common characteristic of these type trades, is the extremely negative risk/reward. I know you would never let it get away from you, but in theory you are risking a loss $165,600 to make that $6900 (on the 1260/1275 bear call spread). It's not beyond...

AFAIK most brokers won't bother checking to see if you really traded at other brokers, or run a credit check, or ask for pay stubs, tax returns, etc., unless you are opening a very large account and want to sell naked calls or something. They ask for all that experience, because they don't...

I've been working as an EE for 20 years. It's still interesting enough for me, but it sure gets in the way of trading! :D

developer, thanks for the thread and the updates. I know this will help others and serve as a warning about what can happen in the markets. Regards. C

Thanks for your thoughts risktaker, I trade automated stuff and options and I'm only up about 10% this year. Pretty flat to down the last few months. I think I can trace my problems on bonehead mistakes I made with my systems, but I'm always interested in why other traders think the...

trade-ya, From your posts I believe you are a very experienced and fairly big trader (at least, compared to most on this board) with traders working for you, and you have access to many resources, info and trading systems. So I'm surprised to see your comment. What is your outlook for the...

I think some of it may be that a lot of traders just weren't in the market. I was in a "wait for the downtrend to get really moving..." mode. It looked like a classic summer down whoosh would start soon. . I don't daytrade, so it's hard for me to start buying on these big up-ramps...