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Update Market close Nov 25th: SKF close = 156.12 UYG close = 5.55 SKF 200 strike put Dec (Short) = 60.50/61.00 SKF 150 strike put Dec (Long) = 23.50/24.50 Worst case to rebuy = $3750 Price if split bid/ask = $3675 UYG 4 strike call Dec (Long) = 1.75/1.85 18 contracts owned Worst...

I'm not sure what a kidney costs these days. :) I have found 2 sites that seems reasonable for Historical option quotes. I don't want to put the links in however as I haven't reviewed them in detail and don't want to unfairly be too mean or too kind. One site was about $50 for a year's...

Update Market close Nov 24th: SKF close = 173.99 UYG close = 5.06 SKF 200 strike put Dec (Short) = 58/59.90 SKF 150 strike put Dec (Long) = 24/25.90 Worst case to rebuy = $3590 Price if split bid/ask = $3400 UYG 4 strike call Dec (Long) = 1.55/1.70 18 contracts owned Worst case to...

I use Optionsxpress for my brokerage and they have a virtual trading account where you can place trades like they were real and you can track the trades, etc. It's pretty nice even though it doesn't have all the features and options their actual trading has. However, I think that just...

Spin, yeah I thought about that part a bit. The UYG side is really dependant I think on the intrinsic value of the 4 strikes IMO. If UYG stayed around 4, those would lose value and even if it went up somewhat they may not gain much as expiration approached. For the UYG side to really do well...

1a2b3cppp, I think it depends on which brokerage you use. I use optionsXpress, and I am almost certain they allow this, but I never use it. Other brokers may not have it with options. Personally, I don't like trailing stops on options as you can be stopped out too quickly. I use...

No, as mentioned by another reply, the option has more then just intrinsic value right now. There is also a time component. XOM has around a 60 IV right now, so you can calculate if the IV remains the same what the value of the call would be at different prices. I like the calculator at...

spindr0, Thanks for the reply. I understand what you are saying, but I have yet to find for myself what indicator or price change movement, etc. that I could use consistantly for a consistant edge. Maybe I need to check out high yielding stocks more:). Of course, the UYG/GS trade...

Here is a strategy I have been thinking about using the Ultra Financials ETFs UYG and SKF (SKF is the Ultra Short). For those who aren't aware, UYG tracks Financials, but is designed to change at double per day what the index does, and SKF is designed to change double the inverse of...

That's not as high a premium as GM puts are bringing - $180 for an Jan 2010 2.5 strike! Certainly that is a high IV just like many other stocks have right now obviously because of fears of the worst possibly scenario happening, whether it be GM, or ALD or whatever. Honestly, I don't know...

El Guapo, Wayne gives alot of good advice, but I wanted to ask a few questions and throw in some thoughts. First of all, just as important as bang for the buck is allocation. In other words, how much do you want to risk? It would be a mistake for example to assume a person is converative...

murray, I can see thinking about trends, etc. as well :) . Just haven't done that as often. When I made this thread, I didn't mean it so much like I was trying to invent new risk free ways to trade or anything, just trying to keep the mind sharp as to good ways to use options. What do...

"Tim Knight has been steadfastly bearish before and during the market top." My question would be what about before that? It's easy to always be bearish and then look right when it works or always be bullish and look right when that happens. There are some people who are always bearish or...

thinks about options strategies while I go for a run :) ? Or are other people that serious as well? On another note, I am happy today because the only penny stock in my portfolio is AOG! Sold half of my position at the days highs. JJacksET4

"he was attempting to sell naked; it doesn't matter if he has a billion dollars in the account, it's still considered naked if he's not short the underlying, and this requires level 5 approval if he's in a margin account. you may think it's a silly rule (it is in some ways) but that's how it...

First off, I agree with the items that dagnyt noted. Most brokerages have something like "Options trading levels". Here is the basics of the list from my Broker (I am a level 4 for note). -1 Trading Disabled 0 Buy Stocks/Bonds/ Mutual Funds 1 Covered Calls / Sell Stock Short 2...

jjk2, I'm glad that you seemed to understand what I was saying. I think what you are saying is that new option traders often hear things like "Straddles are great if IV goes up" or something. Of course, like the previous poster said unless can see the future, IV can be hard to predict as...

I think maybe what jjk2 is trying to refer to that no one seems to be catching on to would be someone who bought a straddle before IV soared and the market tanked. If you bought a straddle for Jan 09 on something like X or DRYS or POT, etc, etc. near their respective highs, you WOULD have a...

gunslinger, Thanks for keeping us up to date by the way on your tourneys. Poker can be nasty, nasty sometimes for sure. I was just playing in Pokerstars $150K tourney (only $10 buyin, but 15,000 players!). Anyways, I was around 5000 chips after the first break. I get AQ (which I usually...

Brownsfan, Here is more info in the link below. http://www.cardplayer.com/poker-news/blogs/article/887 Here are some highlights if it doesn't work for some reason: "BY: ALLYN JAFFREY SHULMAN " - she is the legal analyst for cardplayer.com and Cardplayer magazine. "There are two...