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I posed the question, and am pleased that we have at least a spark of interest in the subject. But what I really want is some feedback from the real critics of SPX Vertical Spreads... C'mon guys, you have been beating your chests for month after month about the lousy R/R's of Vertical Credit...

A subject that is pervasive on this forum is that of a "Black Swan Event". And yet my perception of a BSE seems to deviate significantly from what others perceive a BSE to be. So just for grins, would all who think they have a clear notion of exactly what a "Black Swan Event" is, be so...

You are spamming again! Surely Magna <sp> will catch on soon.

Hello TS, Last time I looked, we did not have a BS Event. And the only way that the market moved too quickly against you was if your position was too CTM. Otherwise you should have had plenty of time to respond to a normal market movement. I know you stay on top of upcoming Economic Event...

No one's opinion here is useless. That is the purpose of the forum, and I've seen Coach get battered repeatedly with reasonable arguments against the verticals. As you said, the outcome was in fact some combination of luck and skill. When I pulled the trigger, we were in fast (but not too...

MAR, not FEB.

"Mouse Ears" refer to a visual depiction on a risk analysis graph of the position. Go to http://www.cboe.com/LearnCenter/webcast/archive.aspx and look at Dan Sheridan's Income Generation series, particularly the Iron Condor presentation. Dan illustrates the use of mouse ears which are...

Ugly & Rally, Did either of you read my post about exiting a FOTM bull put spread during the heat of the battle Tuesday afternoon? The point of this post is not to brag, but rather to demonstrate that conventional wisdom should always be viewed with at least a little skepticism. My low...

No. I meant it when I said that I would make an extraordinary effort to avoid any further commentary. (Of course what I meant was 'negative commentary'). This SPX Credit Spread forum is a narrowly focused thread, the subject of which I have an interest in. When I come here, I don't...

TS, Do you have any concept of how many words you use... to say so little? Aside from the occasional brief bantering that takes place on this forum, I believe that most folks really do want to focus on the specific subject of SPX Credit Spreads (or the criticism thereof). I know that...

From time to time, are we not all legends in our own mind? :D

I disagree. IMO, a Black Swan event is one that happens so quickly that market participants have no opportunity to trade their way out of its path. Today, there was plenty of opportunity to exercise trading judgment to either minimize or prevent trading losses. Not to mention those...

Change brokers!

Well... Closed out my Bull Put Spread that I posted last week. Legged out of short 10 1415 puts for $12.1K Loss when SPX hit 1415. Waited... Legged out of 8 Long 1405 Puts for $10.7K Profit when SPX was about 1409. Waited... Legged out of 1 Long 1420 Put for $2.1K Profif when...

I had the same confusion a couple of years ago and called a friend who had experienced the issue the prior year. But even after he enlightned me, the Taxcut software led me straight thru the issue with no ambiguities whatsoever. My only point is that 'TaxCut' would have prevented any...

Finally dawned on me what you were saying... Ignorance about taxes is not a problem for me, and I would think that most folks who trade combos of stocks, options and futures would figure out quickly what the different reporting req's are related to the different instruments (but maybe not...

Yeah... but tax software is soooo cheap and ezzzy, not to mention accurate. And if you really want some great tax advice related to trading, look up Ted Tesser's published material... he can create a seriously complicated day for the IRS tax auditor!

As I recall from last year (haven't done this years return yet), Section 1256 trades are summarized (I forget where in the tax forms), elsewhere as opposed to appearing as individual line items on Sch D. I use TaxCut software, and it guided me thru the proper reporting of my transactions at a...

I think we can all tell the difference between 'boasting' and 'sharing information'. Clear examples of trades done are very helpful, particularly when the per contract debit /credit amount is revealed. Just leave out the trade Qty & Profit.

Legged into Call side of 'Ear' Vertical for 3.60 credit, making it an 'Ear' Iron Condor. -10 MAR07 1495 CALLS +8 MAR07 1505 CALLS +1 MAR07 1490 CALLS +1 MAR07 1485 CALLS Adjustment strategy is a simple exit @ pre-determined risk levels that will shift slighty as expiration nears...