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Newbies puzzling the intricacies of credit spreads. I took a quick and dirty look at the NDX. Here is what I got Stanford. I think it was Stanford? Mike chimed in with his experienced contribution. He is right, about not understanding the difference between adjustments and ( whoops...

200 pts out on the NDX sounds very interesting. The monthly doesn't sound very interesting though. The reason I went to weeklies is the opportunity to make 4 trades a month. More trades, more money earned theoretically. I will check it out though. What I did was some studies on the...

The 100% correct trade each time? I'm kind of disappointed this week. While my trade is still going good, the idea that I could CLOSE THE SPREAD and EXIT didn't work out well at all. As somebody had already pointed this scenario out, I think it was PHIL? If you close the SPREAD...

I'm beginning to like WEEKLY TRADING. You start on a Monday and finish on a Friday. In my time zone, I start with the market open at 7:30 a.m. and close at 2 p.m. You can take the weekend off and even next week, having no trades running in the market. What a freedom for the mind. You can...

Binary options I took the time to look them up on the web. There seems to be some new outfit advertising to trade them. I read a couple of different explanations. Immediately I thought of THIS IS THE OLD CARNY GAME, of what as a kid we called DOUBLE OR NOTHING, or OVER AND UNDER...

Hi Sugar Your experience with wider spreads is interesting. I haven't really been able to put it in context with my own WEEKLY style of trading the OEX. Cannot visualize it yet. I do get what you are saying that the margin requirements do not change. I didn't follow the GREEKS...

Philosphy! In the first 100 comments on Phil's thread here on this forum, some guy jumped in one time, when I was reading them and mentioned that he had been trading credit spreads for four years and NEVER had a loss. The guy then disappeared. HOWEVER, the comment stuck in my...

OOOOh my! Interesting comment, but binary options are the same as a vertical spread with a single option? Could you kindly elaborate in more detail please for us newbies? Sounds interesting. Probably never do it, but curiosity you know?

Jerkstore I didn't get that latter paragraph of yours? My understanding is that the OEX index settles the next day, Saturday, though I notice that THINKORSWIM have my account credited BEFORE 4 p.m. NY time. I've only vaguely wondered about that? It didn't seem important so long as the...

SONOMA First I would like to graciously thank you for responding. Not many professionals would take the time to teach basics to a beginner. I appreciate it very much. At this writing I had just looked up the information on GOOGLE and found most of it on some website for THINKORSWIM...

WOW! Sonoma! I certainly appreciate what you are saying, but as a novice I don't understand it. I'm going to study some more on this. "Short DELTA 5 options, then short gamma medially at ATM, buy the wings. " You totally lost me there for the moment, until I try to figure out in...

High Sea I agree sort of: TOS have closed me twice on live chat now. They give me CLOSING instructions, but really cannot do them until the event is upon me. Failed again. Live help closed my spread for me and apparently they have two platforms, the desktop and the web based. In each...

Well it was in interesting experience this morning, being expiration Friday and for this NOVICE a new one. Only trading spreads for 12 weeks. Phil and his subject of drawdowns and such had me slightly alarmed and the one hour drop of the OEX of 8 points with apparently no end in sight, had...

If anybody should know, you should. That is interesting and I am wondering on the draw downs. Could you go into more detail of the experiences you had on a yearly basis. Give some examples? Appreciate it. There is always a snake in the Garden of Eden, you can sense it, but as a novice...

With respect to risk management, I have always said the best risk management with these positions is to simply not dedicate all your capital to these trades and you will never blow out. I used to average anywhere from 25%-50% of total capital in these trades and usually towards the lower end for...

Konviction It's all GREEK to me! ( pun intended ) When Phil moved on to discussing Flys, calendars, straddles, I just assume he got bored with the routine of making the money one way. Decided to complicate his life a little and make things a little more challenging. I am really pleased...

There are regular gaps in the OEX but normally they run only 3 to 5 points. I've never seen one in the past two years do 60 points. In Bear market drops, the move is usually telegraphed before hand. Bear Market trends in the OEX according to my studies usually run 30 points in a week, or...

Well it is Thursday and I am nervous about reaching expiration tomorrow Friday on the weekly. I had a 3 strike cushion which has been violated a few points. What happened this week, was in reading the past threads ( I'm up to 103 now, Phil the Option Coach kept talking about RISK control...

Thanks for the response SUGAR. This thread seems to be dead? I'm still reading the threads, up to about 90, of several thousand. Got me a lot of good ideas off it, to help me develop my own method for weekly trading of the OEX. Put on 40 July PUTS 480/475 on yesterday Tuesday for .30...

2 SIGMA SPREAD TRADING Thats interesting because I have been diddling with it. To me it looks more like it would be covering all around the mean average. ( both sides ) The 1 sigma numbers would be scattered, spread across the average is the way I am seeing it in practice here on my work...