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You remeber I told you I use the CTM ITM mostly as a cover for my OTM. If I get money from the cTM spreads, fine; as long as I can make money in my OTM, I am happy. 8K is my goal a month; anything above it is a surplus. My goal is to get enough to start when I get in the CTM and then later...

You are exactly right. That will be my next step. It's to trade ITM, CTM only at directional bias basis and close afyter two or three days. I did that last month creating 30 ITM Calls but 15 CTM PUT and then close 15 Calls when profit was 50% and then leave the 15 Iron Condor till the end. I can...

My PUT wing gave me a net gain of 0.90 and the cal picks up 1.60 for a total of 2.50 about 7.9K. Right now I am up 2K on the CTM. I am ready to convert it into a butterfly by tomorrow. If I do it right now, I will be guaranted a break even on the CTM because I can get $3 for 790/780 PUT...

Yip, My CTM has lost some ground today due to the huge ramp up. What I am happy about is that I closed both wings Yesterday I closed 810/820@0.10 and this morning I close 740/730@0.15 So I need to concentrate on the CTM spreads For me to lose money on this trade We must have the...

I am with you Cache. I observed it last 2-3 days. That's where came my explanation. I I am not good at the Greeks stuff but I know I prefer loosing in a ITM trade than a FOTM. If I can lose 7.5K, I will take it everyday than waiting to lose 20K. That's my third month of combining ITM...

I am lighting up as well. I close my 810/820@0.10 debit. I am watching RUT so I can close 740/730. I want to close the condor 770/760/790/800 but I am witing for RUT to test 781 either tomorrow or Friday. I hope We have flat days like this until then. Nasdaq has been driving this market...

Entry is key for CTM, ITM. I enter mostly on OB/OS conditions. I entered 790/800 when RUT was 793 and overbought and I entered 770/760 when RUT was 778 and overbought. You need to understand your chart and applies to your trading. Don't forget that MY OB/OS signal may not be the same for...

RUT below the MA(50) is not a problem for now. I think that RUT has settled a little bit and reacting better than SPX today; that's a good sign. It may go and test the MA(50) in the next 2 days. You just don't want a breakdown below 767 right now (december low). A close at or above 781.50, I...

1)The 740/730/810/820 condor @ 2.85 I have 40 of the 740/730 and I had 20 810/820 but closed it for 0.10 debit. I can lose 40K 0n the 740/730. 2) I have 25 770/760/790/800 condor @7.20. The max I can lose is 2.80. If my 770/760 was to be in great danger today I could increase the size...

Yes, they are all Credit spreads. Next time I will be more specific. This morning I closed the short side of the 810/820@0.20 debit and still keep the 820. I am looking forward to closing it for 0.20 or more in the next coming days. I am not worried about my 770/760 PUT at all for now as I...

That's why I go ITM on the Call side and CTM on the PUT. I try to enter the PUT on oversold condition.

1) It was a debit. I do have 3.4K credit for 810/820; If I create 800/810 debit @ 0.70 for 1k, That's would have created the BF for 1.00 credit; win win situation. You have to cover all the corners. I am hoping for consolidation; what if I am wrong, I have to protect what I already got.

You see, You opened 800/810 Credit for 0.85. The market indicated reversal this morning when RUT touched 770; that's why I didn't do anything with 770/760. I did put an order for 800/810 call debit @0.70 but I didn't get it. I trade RUT mostly on SPX and Nasdaq movement because RUT goes...

This market may inch higher in the next 3-4 days. Nasdaq has been acting very strongly since last 4 sessions. We would have been much lower by now if it wasn't for Nasdaq. Be careful

Andy, I don't close unless the indicators or price action are against me. MY ITM CTM spreads are: 790/800 ITM Jan Call @5.30 770/760 CTM Jan Put @ 2.00 and the wings are: 810/820 Jan FOTM Call@1.70 740/730 Jan FOTM PUT @1.15 A close above 781 MA(50), I will close The 790/800...

I used to trade OEX SPX RUT RIMM etc.. but since the Israel Lebanonwar I saw an 18% profit dissipate in one month in July. I expected down market in Aug, Sep and I kept losing more in FOTM. My account went from 43K in January to 52K in May to 28K in SEP. Then I decided not to leave the market...

I always have some money left either to close or open CTM or FOTM wings when TA allows. I have two accounts TOS and OX so I can for example do 770/760 and then later decide to do 760/750. If you manage this well , I don't see too much downside because you know already how much you want to...

Closer RUT gets to 770 more money I make. As Nasdaq was getting overbought yesterday, I opened 25 IWM 77@ 0.60 I also added 10 790/800 RUT when RUT was 791 @ 4.80 This morning I opened 25 IWM 76/75 debit spread @0.30 With all these, I don't need to close my RUT 740/730. I also had...

I am not a big discussion guy; this one is over.

The only reason I questioned the FEb PUT position is because I know RUT and the general market are overextended and the downside is much greater than the upside. Me I trade mostly on technical. When you enter based on overbought/oversold criteria, the profit potential is much more. My two...