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Well... if we go much higher it would it would break this wedge and we should be at 130 by the fall. But I think the dollar will save us.

Yikes! You really are green. Does your platform offer a position simulator? If you want to learn options tos is like options for dummies and on their position analysis tool you can change every factor to get a feel for how all inputs work for and against you. If you just want to trade...

I was about to say the same thing. Or better yet sell otm on the front and buy further out to squeeze some of that theta especially as slow as things have been.

It might break out to the upside but it will quickly fail. Either way it is getting scarier and scarier to be a premium seller.

Volatility also has a lot of room to grow!

I've been watching the same thing more or less I'll be happy as a clam if we can get back into this old channel.

bought another at .52. so for the apr 90's i'm in at 1.4, 1.18, .74 and .52

Day trading takes patients, courage, discipline and a clear mind which is why I am a position trader :p. I was never able to accept I was wrong within 5 or 10 mins of placing a trade now I have a few days for it to sink that I'm wrong. I also couldn't handle b/o failures and retests in real...

bought another at .74 apr 90 put

What was your reasoning for using CLF for this strategy? Also what was the IV:HV when you started?

A friend of mine was trying to talk me into doing something like this but he doesn't seem like he works 80 weeks. Why are the hours so bad? Are there countless stupid meetings? I just went back to work and all the stupid fucking meetings are just ridiculous.

Just bought another at 1.18.

You did make a good point about opportunities in whatever area you're in and it seems to get harder every year I guess because there is always new competition but you have to be willing to go to where the value is. Build a team; a mortgage guy, lawyer, broker/insurance, and a handyman they will...

As usual I took profits way to soon And only added one put up here an apr 90 at 1.40 but I'm proceeding slowly as 95 looks possible for tomorrow morning. If we get a upward breach of whatever consolidation takes place for the next couple of hours I sell back the puts and not try to scalp with...

Anyone else looking for 93.80ish tomorrow? I would like it to coincide with an ovx around 18 at which point I'd be buying more puts. Right now I'm long 2 outright and long 1 90 march put and 1 89 apr put If we go back below 92 I'll be stopped out of the CL's and let the puts do the work...

It's enough capital for sure. All you need to find out is how many times in a row you can be wrong before all your money is gone. And then what are the chances that will happen. How many trades a day does your "idea" produce? I have an idea buy the CL every friday at 1 and hold till 3:30...

I'm hoping if we do get to 91 the IV index will be firmly in the low to mid 20's and then I'll have something to play with. Until then I'm trapped in this day trading hell. How do you people find this enjoyable? I should have just kept those 95 puts on for another :mad:

Thanks for the perspective ammo!

95.40 before 92 or do we go straight there? Now that Vol has normalized a bit I'm tempted to start sell premium again but would like to see how it acts around 92. That wedge this morning was pretty obvious so I'm sure everyone milked it for all it was worth :p

LOL Only took me 2 years and about 20k to figure this out. Why time a reversal when you can watch it happen? Lack of patients and ego.