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I'd have to disagree with that. I have no issues with my current fha ARM which now adjusts every year and a 7/1 ARM I have on my current residence. It is usually a better deal unless you are sure that you're going to live in your house for at least 10 yrs, if not then a 30 yr fixed is a rip-off.

I've got a lot of cleanup work to do for the remaining june positions. The good thing is that I've got 5 weeks in the June cycle to do my cleanup. The RUT is about 10-15 pts above the 50 day ema so it still has some room to drop before any signficant damage is done. The S&P basically closed...

To my surprise the RUT settled under 500. The RUT settlement price was 481.06 IWM settled at 47.76 My TZA positions expired worthless, I did close 1 TZA position for $4 and the 3 remaining positions for $4.50 each. Not much but better than nothing. Here is the list of closed positions in...

So far lady lucks been riding on the SUCK IT train as we've closed under 500 to my shock. I'm still not confident that we will close under 500 this friday. Yeah a down market is nice but thus far the bears have been able to do NO meaningful damage. The bears haven't even been able to take...

Sorry about the late update as I made several changes on friday, been a busy week away from the market. I'm still waiting for RUT to pullback under 500. It seems unlikely to happen as expiration weeks tend to be up more often than not, but there's still a chance since this time around we're...

I made a couple of adjustments today. When we rallied this morning I opened short 53 jun iwm put @ credit of $368.82 Of course then we proceeded to selloff after I got filled and now this position is around 500, FIGURES! Oh well I don't mind seeing a down day anyway. I went ahead and...

The difference in the tza premium between the two positions is because I originally bought 1 25 TZA this morning when the market was up. I wanted to add 2 spreads so I figured I'd start with just the 25 piece and if the market kept rallying then at least the 25 put would easily double, so I...

For my may positions what I need is for the market to settle under 500 and 50 on RUT and IWM. So I need to get something in place in case we go above 51. I still am not convinced that we will simply bust through the resistance level at 515-520 on the first try, especially going into the level...

In wait and see mode. It just seems like this market is "destined"/manipulated to touch the 200 day avgs around the 950 level on S&P and 515 on the RUT. So I am patiently waiting to see what happens at those levels. The clock is ticking on the may option positions so at this point if we can...

Still going higher and closed above 500 today. Now its time to see how real this rally is. We're less than 10 pts away from the 515-520 level that I think is going to be a brick wall. But we'll see as short term logic seems to have left the market. I'm getting killed so far and am trying to...

We touched 500 today and then pulled back. I've been watching the qqqqs and they did close above the 200 day line today, now if qqqqs can hold the 34 level for a few days then would be a very bullish indicator for RUT to move much higher. I made 2 adjustments today: bot may 370/380...

Well came close to 500 but not quite today. As exciting as that is, I actually have been keeping an eye on the Nazz rather than the RUT over the last few days, specifically the qqqqs (I prefer to follow qqqq since I trade these more often). Why have I been ignoring the RUT and watching the...

Still going higher so I made another change today: bot jun 410/400 put/short junQ 40 iwm put @ cost of $115.06 I sold the 410/400 put piece for $177.64 which leaves me with the following: short junQ 40 iwm put @ credit of $62.58 Heres a list of my current open positions: OPEN...

I added the following position today: short may 50 iwm put @ credit of $408.82 I like the added flexibility. This position is along the same line as my current short junQ 49 put positions. I still think that 500-520 range should be a tough area to crack. So if the market rallies through...

I went ahead and made an adjustment on one of my may positions. I did the following today: bot may 360/370 call/short may 37 iwm call @ cost of $193.34 I went ahead and sold the 360/370 piece for $947.64 and used the proceeds to purchase the may 440/450 spread for $712.36 which results in...

Nice job valpak. You've essentially got the basic strategy down. You just have to remember that for instance being long the in the money 320/330 Rut call vertical spread is essentially the same as being short the 330/320 Rut put spread. So basically, when dealing with basic spreads: In the...

Here is a list of the open positions I'm taking into May. OPEN POSITIONS bot may 370/380 call/short may 38 iwm call@ cost of $168.06 bot may 370/380 call/short may 38 iwm call@ cost of $188.06 bot may 360/370 call/short may 37 iwm call @ cost of $193.34 short may 39 iwm put @ credit of...

So the market keeps going up on NO VOLUME because everybody on wallstreet was busy standing around celebrating CNBC's 20th anniversary. I work from home today and get subjected to hours of morons reminiscing about the good old days. At one point I thought Bob Pissonme was gonna grab his...

Looks like onward and upward on low volume seems to be the motto. Have to admit I'm surprised here at the strength but then if it was predicatble then it would just be boring. My upside target for earnings was 470 which of course has been violated so I am going to start adjusting and tilting...

Well yeah this is why these morons with the signs are a joke. We want the rich to pay our taxes, want subsidized student loans, welfare, medicare, medicaid, social security, "wipe dem terrorists off the face of the earth"....but we don't want the government to <gasp> raise taxes to help pay for...