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I wouldn't yet. One day does not make a trend. I want to see what tomorrow does before I'll commit any cash on a trade. Cru

I've always had trouble with bull markets. I picked up one Dec IWM 76/77P credit spread @ $0.50 a week ago, just to watch how it goes. The last time I won with Puts was last Winter with a IC spread on GOOG. Then GOOG tanked. I consistenly got burned with Puts since. Need more study...

FYI.. VIX just went below $10---at $9.98, 10:35AM CST. Cru

I attended a ToS seminar last month. I was told that MMs start cleaning their positions about 10 days prior to expiration. That last 10 days were when they made their money. So, about the only mid-point fills you'd get would be in your order was in the way of a larger, more profitable trade...

Here's a recent SPY credit spread. SELL -10 VERTICAL SPY 100 DEC 06 141/143 CALL @.50 LMT [Edit] I calculate this as having a 3:1 r/r. Max loss= $4500 Max profit= $1500 Cru

Mav, what would you call a good r/r? Most of my credit spreads are 4:1. I calculate that as max loss vs. max profit. Cru

In other words, a remote MM uses electronic means to make his trades, while the other MM is a floor trader. ? Cru

If you use ToS you don't have to pay a commis either for only a nickle transaction. Cru

You're OK as long as your landings equal your take-offs. It when you're short landings that you're in trouble. :D Cru

I don't. I'm using McAfee Enterprise version 8. Cru

Hmmm, I would call that a 10% return. You invested $10K and you got the $10K back plus another $1K. I'd take that any time.

Mav, great message! I don't think I've ever seen this explained better. Cru

Have you been polishing your crystal ball again? :D

Hmmm, whadda ya know! So do I! :D I was looking to reduce some -delta. Still learning how to use Greeks. Cru

To return to your original question, yes, I have traded credit spreads on RUT. The volatility on RUT is much greater than SPX. It's easier to trade IWM or IWO instead using credit or calendar spreads. Better R/R, IMO. YMMV. :D Cru

Which strategy do you mean? We talk about a bunch of 'em. :D Cru

Gettin' close. SPX just hit 1369.75. When did you say it would hit 1365? Cru

I used to be a Fidelity Active Trader user too. I got fed up with all the restrictions and delays and moved my retail account to ThinkorSwim. I pulled my IRA account from Fidelity and moved that to OptionsXpress. IMO, either OX or ToS are better brokerages than Fidelity. I'd drop Fidelity...

I amend that to be "sell credit spread at higher/lower strike as appropriate for a put/call spread." The intent is to increase the available credit to offset the loss for the trade that went ITM. Cru

I was discussing tactics with an acquaintance. He trades ETFs on probability of expiration. For instance, he will sell a credit spread of the probability of expiring OTM is equal to or greater than 65%. If the trade goes against him, rather than close or roll the trade/short, he sells...