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I love this kind of days. High IV in the morning and a dead market in the afternoon. It makes my system perfect! To me the worse days are the days of a "mud slide". Lower IV and unidirectional market with a lot of saw teeth.

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Selling AAPL 37.50 May Calls @ $0.90 Limit

Buying back at $0.50 Limit

I'm hunting Delta/Vega with potential fall back to Theta if the original entry causes me problems. I typically naked during the day with the strangles over night and Iron Condors over the volatile times (announcements, news, etc.)

Selling RIMM 70 May calls @ $1.10 Limit

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Selling ADBE 55 May puts @ $0.65 Limit

Covered all of my short puts! What a ride! Flat over the weekend. I hope you are all alright. :)

Are you telling me that when a trend line is broken then you have a better than 50/50 chance for the price to continue in its current direction?

To be true and honest to this journal readers I would have to confess that I did not cover my puts from yesterday and I did not have time to lock the profit on all of them (that I sold yesterday at 3:00 - 4:00 pm). Therefore I am in a loss with majority of my puts and will have to implement one...

Trend lines is a very good tool to explain WHAT HAS HAPPENED and it is a very poor tool to predict WHAT IS GOING TO HAPPEN No matter how much you hate this statement it will always remain true. :cool: :)

:D :D Everything fades away including our lives! :D :D

Sentiment gauges never lie! :cool: :)

I hear you. I will complete the strangles before the market close.

Starting to sell puts. Negative sentiment exhibited another exhaustion.

Long term sentiment remains negative. IMO we will see this slow continues slide till the equities put/call ratio reaches 75 - 80 % Just a thought. :cool:

It turned out to be a half-descent pull back up. :)

Thanks for the kind words. I promise to invite all of you guys (who would be interested) to our new trading office as soon as its ready. So far 4 people from ET visited our Toronto office and I really appreciated their constructive criticism, suggestions and comments. In a mean time, I just...