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falconview, you are sadly mistaken. I know way too little almost embarassed you said GURU. Maybe a NEWRU! 1 and 2. I will give it a shot though. As far as making or losing 40c a trade, if that is someones strategy, it would have to depend on what the crdidt was in the first place. This would...

Falconview, These are monthies, so dont wait by the computer to hear how they work out!

Falconview, even though still a long way out of the money I was not as comfortable with my calls, so I rolled out again to 2100/2125 NDX. I think it cost $1000. Happy with that. Also put on put spread at NDX 1725/1700 which seemed very safe to me.

You ar right, that doesn't really make any sense to me now either. How was the cash balance affected? Is the P/L shown just for that one position, or are you looking at the total for several trades? Were you looking at total open, or P/L for the day? Just guessing here. Michael

Falconview, doesn't that mean if you had actually closed it out earlier, you would have been further ahead than letting it expire? Michael And that perecentage again is 1.2% not .012% (that would be a poor risk).

Gatlinggun, I thought one strateagy of the Iron condors was to have both sides expire worthless, collect the premiium from both credits. If you set the stdrikes far enough out of the money not to be affected, how the volatility affect that at all? Thanks (from a real rookie at this) Michael

TJ and Falconview, does your market prediction give you an idea on the next month? If so, are you thinking up down or sideways? Thanks Michael

TJ, I have so much to learn before I even start using my real money, let alone that of any family or friends. Losing my own I can handle, but not other peoples. Thanks for the confidence, I will work hard to keep it. Michael

TJ I was in retirement two years ago, then ran into a Madoff like situation and now I am back to work and looking for other ways to recover. How long that takes depends on the success of my lawsuit with my financial planner who screwed up big time! Also have another very interesting business...

1. Hey Stanford: I am amazed at your short yet useful posts. You must be very efficient! Just a question of curiosity: are you in "retirement" like falconview, or are you doing this on the side. Thanks

Falconview, good work! What is total amount of capital that you are using at the moment with all the paper trades? Michael

Dr Gonzo, I must be missing something, when I go to the xtrenders site, I dont see anything about Mitch and his positins, where do I find that? Thanks Michael

TJ, thanks for asking, but dont even think about any previous questions, as there are always so many more all the time! Will have to read and reread your debit spread information to flaconview before I have a clue about what that is. When the market started to rise, I put on a call spread...

falconview, is there much difference between the weekly NDX vs the monthly in the last week, in terms of credit? Or do they even have a weekly during the final week before expiration? Just wondering. You should be out of that hole soon.

falconview, so for your weekly time decay you are talking about either the call or put credit spreads, right? Or have you decided to only do the call spreads for the lessor swings.How far out have you decided on each of those, more for the put spreads? When you say 4% deviation, what exactly...

falconview, so the option you sold (closer to expiry) will lose value much faster than the one for the next month, right? How far OTM would you buy these options? Thanks Michael

TJ, thanks. When you talk below about buying oct for 72 and selling sept for 39, there is no credit there. I assume you want both of these to expire worthless, so where is the profit? What am I missing? Thanks Michael

Falconview, commission on 20 contracts is 69.95 per trade. I also think the returns are .026 or 2.6%. Could you explain your bull call spread to me? not picturing that one yet. Thanks Michael PS, how is the tooth?

TJ thanks where is your options blog, love to have a look. Michael