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I have the same SPX DD, although mine is unbalanced (ratio 3calls/2puts) and I have a tent pole at 1315. I do not plan on adjusting/closing unless SPX hits 1355. I am also curious to see what Murray's plan is... Tim

Murray, Looking at the IV of SPX vs IV of RUT on ivolatility.com shows SPX currently at 18.6% of its 52 week range and RUT at 47.4% of its 52 week range. So if we are playing VEGA, SPX would appear to be more likely to get a VEGA spike as it is in the lower part of its range. However, if you...

Murray, I thought you entered the double diagonal during low volatility, so why would you add the "tent" poles later? Why not put them in when opening the DD? Are you also looking for a specific underlying price (near strike?) for the tent poles in addition to low volatility? Tim

Murray, Another great informative post- thanks. Some questions: 1) What do you consider low volatility for entering the trade? VIX<13? Or just a relative spike, i.e. a day when VIX is down 2+ points? 2) What strategy do you switch to when VIX stays higher for a period of time? 3)...

I was using TOS Analyze...

Yes it is an old topic, but I have been looking at it recently. I am looking at a Oct/Feb 20 Call Calendar now showing BE from 13-40 so I must be looking at a different trade than you. What skews did you see before when you were trading VIX?

Rally, Is there a possible scenerio where you could not roll the VIX shorts for even? For example, a VIX spike near expiration where the next month calls are worth less than the current month? Since you can't exercise your longs, how would you handle this? It is a hard thing to analyze...

I find that news strange because I had a lengthy discussion about this specific issue on the OX message board (search for double diagonals if you want to read it) and OX said that they required margin on both sides because it was an exchange requirement, they had no choice. Why would a new...

Murray, Do you have your strikes switched, or are you playing the diagonals different now? In the past, I thought you longs were beyond your shorts. Tim

Ben, Do you do any TA before entering a DD? Or do you just look for a time when you can enter at even or slight debit? Tim

Ben, I was trying to look at your position and am wondering if there were some typos in your post. Was the original Sep short call the 58 instead of 68 and the original Dec long put the 53 instead of 63? I trade DDs on XLE as well, so I am very interested in how you set them up. Tim

I read through this thread this morning and did not see anyone comment on Ox's Trade calculator compared to TOS's Analyze. I have accounts at both places but learned long ago not to trust the risk graph that comes out of OX's Trade calculator. Most times it is ok, but other times it is clearly...

Phil, It would be nice to know the SPX price when you get filled on your orders. On OptionsXpress it lists the fill price in the email it sends you on the trade. Although I was a little skeptical at first of your preference to "leg in" to ICs and to close them prior to expiration, after...

Coach, Why did you decide to change trading strategies this year? Were the put ratio spreads not working as well? Tim