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Heather, I'm trying to understand your situation. Are you trying to: 1. Be bearish on SPY (and hence the short SPY stock) and trying to hedge this with the long call? (OR) 2. Be bullish on SPY overall (and hence the long SPY call) and trying to short SPY stock when you think it will...

An Iron Condor is usually constructed with a short OTM call, OTM put and further OTM long calls and puts (for hedging). What does that tell you? The risk of the shorts getting ITM is lowered by the OTM amount. So lower risk, lower reward. The iron fly is short ATM calls and puts. So just...

Hi Heather, Short stock + long call = Long Put (at 135 strike at your case). Synthetics. Although I'm no haircut expert, you might as well just buy 10 135 puts (after closing your existing positions) and not worry about any margin in this case. Just my 2cents. Cheers.

Hello Coach, Murray, Mo and other traders, I've been trading far OTM SPX credit spreads since Aug '05. Have been profitable (with 2 bad months Oct 05, May 06 - but got away with a minimal hit). I trade credit spreads and if conditions allow, I complete the iron condor. Been a regular reader...

Reply from Tom Sosnoff, CEO, Thinkorswim. ----- Original Message ----- From: Tom Sosnoff To: Krishna Cc: Scott Sheridan ; Sol Espinosa Sent: Wednesday, September 20, 2006 7:36 PM Subject: RE: thinkorswim: Yup. We're gettin' hitched. Hi Krishna, It’s great to hear from you and...

I used to be paper trading double diagonals on those - selling the weeklies and buying the regular options in March-Apr. It worked quite well (since the volatility was low) - but then since May, we all know what happened. The 5 limited strikes doesnt allow for many adjustments. A sharp move...

I'm no Cramer fan. But just reading what is there on the website: "In Most Recent Results we show how well you would have done if you had followed Jim’s and Leonard’s picks and then held onto to them for 30 days and then sold them." It's not the entry that matters - its the exit. With...