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Heather, Make your ToS screen look like this. The green line is your position at expiration under current conditions (SPX level and VIX level). The white line is your position today at this moment. Make sure you set the dates right in the upper right hand corner and the lower left hand...

ToS only charges on one side, not sure why OX does both sides. I plugged it into the ToS software and I get $25k as margin plus the cost of $5.8k to enter the position.

Yes there is a chance of loss, if the SET tomorrow is above 1325 you will lose money. How much depends on how much above 1325 the SET is.

I modeled this in ToS really quick. Yes, at current VIX levels you would have a loss if the market was in the middle BUT it all depends on what the VIX level would be if the market was down at say 1275 or whatever. If the market dropped quickly down to that level then VIX would more than...

I have the Sep 1325c/Oct 1350c diagonal. My breakeven at expiration is approx 1333. With the market currently at 1314 as I write this it looks like I will hold on and let SET fall where it may (I'm rooting for 1325 .:D). If we have a rally later in the day I may change my mind but only...

Options 2 puts you 2SD away from the market, something to look at if the credit is decent.

You must be reading my mind. I have been looking at the following strikes for Oct/Nov Oct 1275p/Nov 1250p Oct 1310c/Nov 1300c Oct 1350c/Nov 1375c (possibly for a credit) Cutting it close on the calls this way, still in the thinking stages.

You are right, CPI will be the big item. Next week the Fed meets so lots more action to come!

Now you tell me :p lol! I went into the weekend really strong and gave some back these last 2 days. I should still end up around +2%ish on my diagonal positions. Actually closed out my low end today just under b/e, making money on my middle puts and upper calls right now. Looking for 1 more...

That makes a little more sense. Nothing seems to be slowing this market right now so your chance should be coming up soon. Big news now is the Thursday morning and Friday morning reports coming out going into expiration. Should be fun as always!

Sailing, This looks like the makings of 2 months in a row of vix getting crushed right at expiration. Time to look for Oct diagonal plays. I've got one in mind, I'll post it later once I play with it more.

Last few days before expiration and the market is pushing towards my short on my sep 1325/oct 1350 call diagonal. Showing a good profit with more room to go (but not too far!). Will look for a good exit soon. Will take some time to get used to cheering the market on towards my short strike.

You don't want to sell the put spreads with this setup? Or are you talking about some other index/equity?

My contribution to random posting on this thread: I was out of the office for a little while, came back, posted my little post and boom goes the dynamite!

I think I tried closing it for about .20 but couldn't get a fill as I was aggressive on my order. The spread is coming back a bit now, mid at 2.00 and OIH is just below my breakeven at expiration.

Coulda, shoulda, woulda...:(

I find the choice of adjustments for diagonals more palatable than the adjustments for straight FOTM spreads, just a personal comfort level for me. Why do I like the wide verticals? It does give me a nice crack-like fix while I'm waiting for a CTM position to come into play :D.

I'm nursing a decent gain in my triple diagonal, too many damn choices getting close to expiration. Do I close and move on to Oct, do I go for an Oct Iron Condor, do I lock in some gain by creating a Sept spread by buying something, :confused: making myself dizzy thinking about it. I would...

How could I have forgotten RR! Shame on me :(. I'm backing off the FOTM juice for now, looking more at double/triple diagonals so I can have more choices when, not if, things don't go my way. I LOVE the CTM spreads and am making them a bigger part of my overall strategy. Will add more ATM...

I may be a little behind on this one but I read that NASDAQ is going to start an options exchange next year: http://www.nasdaq.com/newsroom/news/pr2006/ne_section06_106.stm A move to pricing in pennies and the added competition of a big player like NASDAQ, could be good.