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It has nothing to do with hindsight. You simply place your trades and then you do what you gotta do. My point is that someone who placed Long Iron Condors each month probably could have made money 10 or 11 out of 12 months, and if they had an understanding of when risk was coming big time...

I'll probably be badly flamed for this, but I don't really agree that anyone trading Iron Condors this past year would necessarily have a large loss, or even a loss for that matter. When I do trade Iron Condors, I use SPY - look at SPY from a monthly view - Jan, Feb, Mar, Apr, May, Jun...

I'm aware they are different trades - the OP was asking why someone might choose one over the other. I was showing that in many examples in text, etc. CCs are shown as selling the higher strike, shorting puts are shown as selling the lower strike. JJacksET4

dragonman, I realize in your example you mentioned a stock at $50 and selling a 50 Strike Call or shorting a 50 Strike Put, however, I have found alot of option documentation shows example like such: Stock at $50 - Buy the stock and sell the 55 strike call or: Stock at $50 - Sell the 45...

Thanks for that post NoDoji! I think great minds think alike! I don't know where people talk about options like they know how they work and then get the basics of them wrong. Options are risky when people are going to buy say $10,000 of a stock, but instead put $10,000 into a short-term call...

Ron, I'm not very familiar with futures, but with long options you also "only lose what you risk". It is only short options that can cause larger losses. Also, as far as timing goes, options have different expirations and it is very rare for longer term expirations to lose that much value that...

I just wanted to point out something here. If you watch TV or whatever, everyone is screaming about how volatile this market is and there are pundits on both sides saying the market will tank or will soar. Despite some large moves in between these days, lets look at some SPY values on given...

As you implied to the other guy, I believe there already was a write off done and RIMM fell that market day. Not to say I'm positive on RIMM by any, any means, but it's not like its near a 52-week high or anything. JJacksET4

I've been doing some of these recently, even opening them halfway though the week and I've been impressed with how well they tend to work. Admittedly, just like with just about anything, they can go 100% wrong in a huge gap move or whatever, but otherwise they seem pretty good. On 11/22, I...

No, you are missing my point - first of all however, I think we need to clarify for sure - do we know what this picture really is? Is is a soup kitchen? Is it Job Applications? Is it a line to pick up tickets to the World Series? I see no evidence from the picture it is necessarily a food...

Yeah, how about this due allegiance - It has long been said that an ounce of gold can buy a nice suit - back when an ounce was $20 - a nice suit cost $20. When gold was $400, a nice suit was $400, etc. Now you can get a few nice suits since gold has gone up so much, etc. but the point is...

Ok, fine, but here are some more thoughts/questions about pic 1: 1. If you own a suit, does that mean you really wear it (including a tie, etc.) to a soup kitchen? Wouldn't just a plain shirt do? Not to mention all the guys are wearing their hats, and in the background there is a business...

What I don't get though is the guys in the 1930s shot were wearing suits and jackets, etc. for the most part. These days if you had no money and no job, how would you get a nice grouping of suits, etc. Maybe they had the wrong priorities. The guys in the current picture look like bums in...

What, a liberal doing that? lol. If there were pics of Romney and Corzine being buddy-buddy or whoever ends up being the GOP nominee the dems would be advertising it all over the place. Instead Corzine goes and steals money from investors, gives it to the Obama re-election campaign and not...

Forgot to report that on Tuesday, I closed the CAT trade for 4.72 (a .03 loss). OXY position still open.

Isn't it amazing how the media just ignores the Corzine/Obama relationship? Here is a guy who robbed millions of dollars from investors and gave it to the Obama campaign and the MSM doesn't even care! The GOP should run these kinds of pics of Corzine and Obama together over and over...

http://www.associatedcontent.com/article/9048209/radical_life_game_plan_idea_for_the.html?cat=3

Sure I believe stories that don't show any proof. Also, the most recent post on that site is for the 17th - where were they yesterday and today? OWS is getting old, stale and need new thinking or they will be gone quick. I will give them a rock-solid plan for just $250,000 in my paypal...

Just to point it out, with one day remaining, this now is priced at ~: $2690/$2845 JJacksET4

Closed the GS trade for 6.56 total. Other trades still open.