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To give a little bit more of a peek into my head. It had a lot of trouble with the $40 mark in 2004. It has already demonstrated this year that the same resistance is there. Given that it has $5 strikes, it makes it a little tough to play an ATM vertical. I don't like ITM bull puts. That...

I haven't got a position yet. I wanted to make sure that it was going to hold above the 20SMA. This stock really likes the 20SMA. It came close to breaking through today, but was unable to close below it. Of course, it got a little bit of help from the market turning around. My only concern...

Everything is holding relatively still lately. Still no reason to bail on my BBY or IBM. So far, my predictions on PALM have been accurate. If it holds here then I'm expecting a pretty strong move up. It will likely hit some resistance at $40 but a good enough move will send it through...

Never knew you were so influential huh!?! They should put you on the economic calendar with the other market movers.:p

Careful Coach. Could be that you don't have to take a position. Just you mentioning the words bull FAKE could cause the market to switch again. LOL:D

BBY gapped against me today on a surprise 4Q revision. They are now at heavy resistance. They almost hit my stop but have since checked back down. I'll be keeping a close eye on this one. If the resistance holds and they don't hit my stop then I'll wait it out for a bit. If I get close to...

Looks like I might have waited a bit more to get a better fill on IBM, but it's hard to be that precise. :( Looking to get into a bear call spread on SPX tomorrow. This one will likely end up in an IC but I'm not going to put the whole IC on at one time. I'm getting to be bearish on the...

Today's Action BOT 1 IBM MAR 80 put @ 1.7 Year to Date P/L Account Value: $10,049.50 YTD Gross P/L: 90.00 YTD Commiss: 40.50 YTD Net P/L: 49.50 YTD % P/L: 0.5% Just a quick update on the positions that I am currently in. BBY MAR 50/55 bear...

I don't do many calendars. If you do a calendar on it. Please let me know. I'd like to follow you on that one.:D

I've been really tempted lately to take a position in SHLD. My real portfolio already has a couple SHLD positions. It has been locked in a tight range for a while now and is nearing the bottom of that range. That support has held several times, but something tells me that it can't stay in...

I decided to take the opportunity on IBM. The IV wasn't good enough for me to want to do a spread so I took a small position with long puts. I'm placing a stop in at $81.50. Next support appears to be 77.50 but I'm going to place a trailstop when it drops below 78.

Thanks. That makes a little bit more sense from a portfoilio management standpoint. So are they suggesting something like selling an SPX bull put spread that is 2% OTM. Then if the index goes down selling another bull put (at different strikes) that is now 2% OTM. And so on and so forth...

After talking to ToS about their commissions, I've found that a trader doing what I am on this thread can get a rate of 1.50/contract with no minimums/one time fees. (Consistent larger orders can get $1.25 with no one time charges) Since this is possible for the small account novice, I will be...

Thanks for the heads up. As long as I've been trading options I have never thought to ask for a discounted rate. It was no problem getting it when I called ToS. I don't know how I managed not to think of that over the past several years. Learn something new everyday.:p

I usually do use contingent orders when I can't be at a computer. I agree with you that they shouldn't be used to exit all orders. The unforeseen emegency put me in a situation where I needed to have a contingent order but didn't have the opportunity to place one. I wasn't all that concerned...

Actually, my original strategy was to reverse the position once the support was broken. Unfortunately I had an emergency this morning and was not able to follow that plan. As I looked at the position I decided that it was best to agree with you and cut losses on this one, rather than trying to...

Thanks

Yep, looks like supports isn't going to hold. Unfortunately, I was busy with something this morning and couldn't catch the big drop on the way down. Assuming it doesn't drop too much more today I'm looking at seeing where it's going to close the day at. If there is any upward pressure then...

To a certain extent I agree with ToS on their OTM spread opinions. This is evident from my journal thread. But I'm with optioncoach as far as SPX is concerned. SPX is well suited for deep OTM spreads. I've never been to ToS seminars or anything, but it sounds like they are solely counting on...

I've never thought of doing this before. Do I have to give up any of their nice little perks for this lower commission. I knew that they let you adopt a different company's commissions but you give up certain things. Also, I don't really worry about the $2.95/contract except for on my...