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Piccon: I see the NDX closed above 1650. How did you make out with your problem? Hopefully, things worked out reasonably well, under the circumstances.

I called to have the following added: 1295 DEC SPX 1310 DEC SPX Should show up tomorrow. Is tomorrow a holiday for trading?

I decided to add to the 1275/1280 DEC bear call position. Got it filled at $0.50 today. The mid was actually at $0.65 so I placed an order for $0.60. I admit the mid seemed very high and when ToS called down the mid in the pit was more like $0.50 to $0.55. The ToS person was unclear as...

Interesting. I assume you have other positions in place not mentioned here. Because the 1205/1195 bear put doesn't hedge the bear call. For both positions you would like the index to move in the same general direction --> down (more so for the bear put than bear call). Or am I missing...

Thanks, Coach. I just want to add one more point for now that I forgot to include above. Anecdotally, I have noticed that it is very hard to get out of a credit spread for less than a $0.10 debit (even when it is pretty far OTM). Even $0.20 can be hard at times. That's another reason...

Clearly last October and November were strong moves upward, which apparantly is true most of the time for this time period. I'm afraid my post wasn't clear and the example I cited was poor. I wouldn't actually place that example trade today. Instead I would wait for the market to go higher...

Coach: Given the following two (and there may be more): 1) The IV skew favoring premiums with puts 2) No corresponding black swan event for bear calls as there is with bull puts (all other things being equal and assuming that one is trading deep OTM spreads) I'm thinking that these...

Andy: Check out yesterday's postings.

I'm pretty sure I requested the 1290. I currently don't see any open interest on it which is probably a good indication that it just got added. Also, it takes at least a day for the strikes to be added.

I called yesterday to have the following option strikes added: Dec 1290 Jan 1290 Jan 1310 Glad to see that they have been added; however, it's not guaranteed that they will be added. The number to call is 888-OPTIONS

I decided to place some bear call spreads today. Got the following filled: 1285/1300 DEC SPX bear call at $0.55 Then I decided to follow Coach on his trade: 1275/1280 Dec SPX bear call at $0.40 I'm just starting to take on Dec bear calls so I'll be looking to do more depending on...

July 20, 2005 Online Chat with Tom Preston

Coach: Did you get a chance to review the ToS article on rolling the "safe" side of an IC using a regular condor as opposed to two separate trades (with the inherent risk that the market will move against you in between the trades).

Coach: The market's got a bounce up that may prove to be more. Are you looking at any bear calls? I've got the DEC 1285/1300 in my sights.

I posed this same question to TMS live support online. Here's the response from the ToS person: "I called the broker and he was working it after the first quote and got lucky. That's the answer" Getting these guys to call down really does make a difference. That's 4 out of 4 trades now...

The wierdest thing just happened. I'm trying to clear up margin. So I placed the following on ToS: Buy back 1085/1115 Nov SPX for $0.20 Order sat there for about an hour with the 'mark' (midpoint) at $0.15. I called ToS and also used live electronic support. Both times I was told...

Momoney: To get the 80% probability, you are multiplying .9 by .9. The part that I think makes this confusing is that only one side can expire ITM at expiration. So I'm not sure that the probability would be 81% (assuming each spread is 90% probability of expiring in the money). I think...

Momoney, Your analysis for what minimum premium to collect is interesting and makes sense to me. While I'm not advocating that an iron condor be put on every month, the addition of the opposite side spread to produce an iron condor will generate more premium. There will be no additional...

Coach: I find myself often having to wade through all of these pages to find your current positions or to find a sort of 'boiler plate' answer that you have regarding adjustments, etc. Is there a way to post files in this forum so that they can easily be found independent of a posting...

Coach: I've noticed that when you place a trade, you, more or less, commit a large amount each time (typically 50% or more of the margin you've set aside for credit spreads). I typically commit maybe 10 to 20% at a time. My thinking is that if the market moves then the next credit...