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For those who wanted to know how I did with my March RUT770/780. I decided to close it today: I had 10 RUT 770/780C for 1$ I hedged it by buy 8 IWM74 @ 0.45 This morning, I close IWM for 0.80 => credit of $280 This afternoon, I close 770/780 for debit of 0.70 => credit of 0.30...

This What I had: SPX 1225/1215 P->$0.70 SPX 1320/1330C->$0.55 OEX 590/595C->$0.75 OEX 560/555P->0.55 RMBS 45C ->$1.10 SNDK 90C ->0.70 RIMM 70/75C ->$0.80 RIMM 60/55P ->$0.85 If everything goes well everything would have expired worthless except for RIMM I had total credit of 1.65...

I was talking about SPX FEB 1320 and OEX FEB 590 I don't think you should close your march 595 yet. We are too overbought and they all going to start rolling. I already but the put for OEX and I will wait to complete the spread. I also have DJX and SPY Puts. I don't care if they go...

I am at 320. I have OEX 590 though. OEX finishes at 585.79. It would take SPX +10 or more for my OEX 590 to be touched. Coach, Wouldn't be a good time now to buy FOTM wings for potential butterfly Ex: For 1255/1265/1275: Buy 1255 and 1275 and leave the door open when the market is...

Mo, Are you doing anything with your Butterfly 570/575/580?

This is an update of my RUT trade per your request: 10 RUT 770/780 for $1.00=1000 This morning I bought 8 IWM 74 @ 0.45 for hedging $1000.00 RUT Credit $360.00 IWM hedging => net credit 640.00 I will take the small profit anytime if I can reduce the loss possibility. For now...

Use Stochastic, Moving Averages. You need to be able to hide your short above Resistance (calls) and below support (puts). Like today is a good day to get some calls. Dow is overbought. I don't care about Bernake rally, I short the Dow. Time is on my side; I have 35 days to be right. The...

Everything Is credit no debit.

I trade OEX, SPX Spreads and I folow the trend to hedge with SPY. But I make money on FOTM with RIMM SNDK RMBS etc I try to respect my 10/10 rule. At least 10% return and 10% protection for my short. Before I enter a trade in stock I make sure I can get at least 10% return for at least 10%...

Mo, I didn't mean to offend you. I am too greatful to this board. I had no idea of what making 1K consistently in the stock market was before I started reading your thread. I really like the concept of Spread trading and I put what I learn from this board + my analysis to develop a technique...

Isn't this too risky? I had 1320/1330 long ago and it's only Tuesday or Wednesday that I completed the condor with 1225/1215 . That's the only spot I felt comfortable right at the MA(200). Good luck anyway. Next week I am going to sit back and watch. I am looking forward to entering...

Why do you want to hedge a position already closed?

Hopefuly I won't have to get out. That's my objective: let it expire worthless. That's the reasonning behind FOTM. If ever RUT starts to be strong, I will buy some close to the short strike for hedging. For the last two years, only twice, the 20 trading day period exceeds 62 points. Maybe I will...

This is tough. I was even trying 580/585 and 570/565. I still don't have the Balls to do it. S&P100 has been stronger than S&P lately and it's MA(50) is at 577. I am going to wait for Tuesday Wednesday to see if I can get something out of it. I alredy have 590/595 for 0.75 and 560/555 for...

I have 2 years monthly moving of RUT and I decided after looking at it that 770 would be safe for februry-March period. Timing is important too in spread trading. My 6% -10% returns come from different areas. For the last two months I have been making money on RIMM, SNDK, RMBS, OEX, SPX...

Quote my short strike is at 650 => 650/640. 650 is below MA(50) and below MA(200). I think it's quite safe.

Coach, I heard people talking about RUT; I never traded it; I have been working with OEX and SPX using my statistical and technical analysis. So far everything has been great. I support my technique with your hedging. I have been making money in both hedge + spreads. Yesterday I tried the...

Coach, How do you build the Prego? Is it like the Butter Fly? Thanks

Don't forget that I told you I am at least 10-12% OTM on stocks. Example stock at 67, 68, I do 60/55 Put 75/80 call. So I have time to get Theta to work and as soon as My short strike is touched, I am out. I take small loss and make big. I also take major moving average as support or...