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Thanks for the post. I have started to take a look at the weeklies, but my focus on the RUT has kept me from doing anything. For the new trading year, I can see that I need to start using them. Can you give us some idea on what you are doing with them.

You might want to look at the thread "My System" for one example of how you would use them. Basically, it is very cost efficient compared to buying stock outright, and you can get that extra bonus of the covered call.

The iron condor is very commission intensive, so you need to avoid the spy which is too small for the commision. Dan really likes the RUT-- it's big and very liquid.

I have posted a couple of systems here over the years. Here we go again. GLD is an interesting market, with steady upward movement, but with breathtaking valleys. So, how do I make money here besides buy and hold. First, I buy a deep ITM call, 3-6 months out. I then sell a call in the...

I was very happy to go above breakeven this year, after severe losses at the beginning of the year. So, I'm about 5% on my account the last two weeks. I went from a dismal loser to a modest gainer after a major change in strategy, and the runup in GLD. I use the option covered call...

After some research, I found the RUT to be my choice.

I have a slightly different technique for diag. I buy deep ITM calls which are three to six months out, and then sell the front month call. My long call has a small theta, and alot of delta. Basically it is similar to a covered call. I look for calls with about 80 deltas. Now there are...

The market goes strongly against me. I see potential major loss. The risk manager cometh -- he tells me to cut the position in half. Now, here is what happens when the risk manager comes == I lose money, and three out of four times the market goes back into my favor. I usually get out at...

Thanks so very much -- briefing was the one I was thinking of. But I will also check out the others you mentioned.

I have misplaced the link to a market update site. It gives an update ever 30 - 60 minutes on the general market movement. I've looked all over but can't find it. It has several levels of subscriptions, but there is a free basic level. Thanks for your help.

Correction: covered call with stocks is $7778 MINUS $120 for the short call. Regarding how to adjust the position, listen to Dan Sheridan http://accordent.powerstream.net/008/00124/presentations/DS20071206/

You don't know what you are talking about. You can structure an option position that addresses these issues: Read my post in this thread http://www.elitetrader.com/vb/showthread.php?s=&threadid=200040

Let's go back to your original post. Equity XYZ gapped down, and you expect that it will go up. So you bought a call and thought that as it goes up, the call premium would go up. Let me guess, you bought an out of the money call because it was so cheap, right? Anyway, this is how you...

I just don't see myself selling on the put side, so no Iron Condor, just call verticals. And, of course, the calendars are out of the question on such high volty, and the fly is just too complex with such wide spreads. But the fly is especially cheap in high volty and can give a good return...

Yep, still here. I am now using the "Turkey Shoot" strategy. A market goes up sharply, I wait for the second day to see what happens. When it starts back down, I "turkey shoot" it by selling a far out call vertical. I am looking for a premium just above $1. The turkey sticks out its...

Thanks for you comments. I only did goog and bidu because they have dec/jan calendars which are relatively inexpensive, with good risk/reward. For me this is a business. I got out because I reached an account stop, but I intend to refresh my account with an acceptable account balance...

If you are in this market, with this strategy, you are an idiot. I am an idiot. I have temporarily closed my account. I went below my pre-determined account stop out point ($18,700), and will have to find more money to bring up the account to an acceptable level.

A few observations for those who have been following this thread. You will note that my account over the past week has dropped over $1k (5 percent of the account). Well, here are the things I learned: 1. Too many correlated positions --RUT, RIMM, GOOG, and BIDU. Sigh. 2. My long...

Today's major move downward shows how the monkey calendar works. See the attached tos screen, and note that the vertical section compared to the calendars. Almost half of the losses experienced by the calendars are covered by the verticals, so it cuts the losses in half.

High school girl's basketball and the NBA Once a year update vs monthly updates Hey, but it takes effort to play with the big boys, and you will have to learn the platform.