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Hey... If it helps, I'll try it. :eek:

Their take-out is excellent too, and you can close off that room for privacy. It gets my vote.

Thanks Skanan. I've been looking at TGT. Not a historically volatile stock, but the OTM options are juicy. Have a good trading day.

TOC - Thanks for your input. It's just what we needed to advance this discussion.

I hear alot about using Fib levels to determine pivot points. A trading buddy of mine and his mentor swear by them. They trade FX exclusively and trade successfully using only Fib levels. Is it worth the time and money to learn? Is Fibonacci over or under rated?

WTF??? Sounds like somebody didn't take their Ex-Lax today.

Good job on the Feb's. I looked at them myself but didn't pull the trigger. If you have some time, take a look at CRDN and the FOTM March strikes. It may be too extended, but was wondering what you thought.

Very true. Being right pays off very well in the long run. Hitting alot of singles pays off very well in the long run. I used to trade that way, have slowly moved away from it. I should have realized it when I noticed I was spending too much time during the day watching my account. I need...

You're more patient than I am. With my FOTM IC's I sometimes err on the side of higher yield and sacrifice "batting average." I see the value of not pushing it - I just need to get better at practicing it.

Unfortunately, it was not well attended. Just a few showed up. If anyone has any better ideas to draw traders to a local social, I would luv to hear it.

Is it your strategy to eventually set up an IC, or generally are you satisfied with selling only one side of the underlying?

redmyan, With a 15 pt spread @ .60, IYHO how many spreads does it take to make the trade worthwhile? Thanks.

TY MoMoney, True, it isn't simple to get fills even on SPY vs SPX, but ISE has been more cooperative to me than CBOE. Will look at the commission issue you brought up. Thanks for the input.

Interesting comments SLE. Been thinking about that myself lately sticking with indexes (SPY/IWM/QQQQ). Gonna take some small positions (IC's or indiv CS's) with Delta's in that range, knowing adjustments may be necessary. As opposed to what I have been doing - taking small credits hoping not to...

Cache - Can I have a link to your journal?

Good trade. I too like the SPY/IWM/QQQQ 1pt spreads. Also better fills than SPX or RUT. Went to a TOS seminar recently. I have OX now and I feel like I'm trading blind. Gonna switch soon.

I've traded IC's on RUT before, much higher Beta than SPX. 3% is manageable w/SPX & SPY. A little too tight for RUT & IWM. I plan to place trades this week to test out Tom's strategy.

www.thinkorswim.com

LOL... More entertaining than the Super Bowl.