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i am doing another ic on CME this month. I scooped up a may 440/430 put spread for 1.30 this morning. I think i'm gonna wait for it to gap fill before i sell the calls. if it stagnates in this area, i'll sell calls early next week. Even after last months CME debacle I still made $2.10 on the...

maybe sell the may 62.5p strike?

whoops, thnx for the correction MTE. my geurilla math was wayyy off. a .97 delta option costing 3 bucks would have the underlying increase to over $14 to double that option. wheeww!:)

I agree with johhny walker in that you should be long the metals. To continue along that theme, go long gamma in the metals. By call ratio spreading, you are long, and it's much cheaper. sell a lower strike call, and buy 2 calls at a higher strike price six or 8 months out in time. It'll...

thx for the support and advice. it is tough without bouncing ideas off other traders. with my 20/20 goggles on, risking 1.05 to squeeze out an extra .40 or so with less than 50% probabilities.....oh well when the money's gone...it's time to move on...to may

If all other factors being equal, if the stock was trading at roughly $11.65 your option would double in value. don't ask me how to calculate, i eyeballed from my profit & loss graph from the thinkorswim platform.

Not many contracts no. But it did wipe out all of my gains YTD. I was almost white with rage on friday. rookie mistake, I was too sloppy with risk management, I have learned a great deal from this incident.

Agreed. There's no cookie cutter way to put these things on. myriad possibilities and such. for me, it's easier to leg in all 4 spreads in 15 minutes or less. I guess it's a matter of being mechanical about it and not bringing in my market opinion. Actually I do it both ways. last month i...

When buying options do you always pay on the offer?....same thing with commis.....make a 2 sided market. I made a bid and got filled at the bid! :cool:

I disagree with this mode of thinking in order to be successful with iron condors. The whole point of an iron condor in my opinion is to not care that much as to the direction, just as long as it stays within your predetermined range for as long as you hold the position. Me personally, I...

That's f&%^ing awesome. F@*$!

I legged each leg into NDX for May today. 1650p/1675p/1825c/1850c for $4.40. I'm a raging bull. the 50/75calls didn't have enough premium for me. My APR spx call's are atm 1315/1325, we'll see when SET is reported. I have teeny weeny size on, so not too worried. I originally just had the...

Those jobbers u talk to when u call 1-800-irs or whatever are completely clueless when it comes to the tax code. Talk to a CPA or tax attorney, my guess is capital gains need to be reported regardless of trading vehicle.

Agreed. Technicals look lousy on this dog with fleas.

I don't know man, call your broker, he'll know what would be more advantageous for you. I don't use optionsxpress, but if you're hellbent on using stop loss, enter orders separately, but u'll probably be charged another ticket charge. Call them to be sure tho.

Here's the JA pic from the other day. Coach, you're old lady looks good even when she's all tatted up!

Thx Donna. however, I'm not a subscriber to the journal, could u post it or pm me with it? Also, We're all still waiting for a photo of you and the apparent 'hot legs' of yours. The suspense is killing us. :D

Lol. Hajimow, you are a legend..... in your own mind! Me however, I'm a legend in my spare time. :D

SLB's options look fairly priced. I'm expecting a beat and may go long a few shares into close. With the price of oil where it is, how can they miss?

Sure, buying straddles(long call+long put) around earnings is a popular strategy. Just don't buy the straddle a day before earnings because you will be paying a premium on your premium, most of the time. So, my advice would be to buy the straddle a few weeks before earnings come out before...