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You are dead on piccon! I was starting to get that bad feeling in my stomach yesterday with the moves we have been seeing the last 5-6 days. When I start getting bad feelings like that I try to step away for a little bit then go back and look at my alternatives after I have calmed down, even...

Normally I close or hedge at 15 away from the short but now that we have broken 1300 and aren't showing any test of it for support I'm concerned we are going to be going a good deal higher before expiration. Probably will be looking at doing someting around 1320-1325 if/when we get there. I...

I'd like to see a retracement to ease some pressure on my 1345/1355 call spread and allow me to get more premium for a put spread. Still looks like another up day today but it is quadruple witching so lots of weird things can happen. ryan

The March SPX options stopped trading today (Thursday) at 4:15. The actual settlement price is based on the SET which is determined on the opening prices of the S&P 500 stocks on Friday. It can be a bit confusing so I would suggust you read the info from CBOE for more detailed information...

I downloaded the TOS software this morning. After initially fumbling my way around the analyze page and having to click for help I now am able to work it. This really blows OX away! After I switch in a few weeks I just hope the fills are better and the commissions don't go up. The more I...

Looks like another making for an up day. I guess I will be looking at my options a little harder today. ryan

With the market surging a bit I am getting nervous about my April 1345/1355 call spread already. With all the adjustments we have been discussing the last few months my head is spinning! I'm looking at the prego fly idea and now Murray has made me start thinking about rolling into a double...

Sweeeeeeet! :D ryan

I've got a question for you TOS users. Is there an options calculator on their platform that will let you enter 4 legs, number of contracts and price for each contract and give you a P/L graph or sheet? I use Optionsxpress and you can enter the 4 legs but you have to enter the credit/debit of...

Are you rolling your shorts from April to May or closing the position in April? If I'm understanding you right, you are closing the position in April. ryan

Hmmmm, as I type this the SPX is at 1297.1 and is up 12.97 on the day. I think the gods of resistance are about to bite the dust or show us their power. ryan

I think it can be a good strategy as long as you can handle the margin (according to OX, a 1 lot has a margin of $35,780 and you bring in a credit of $3,740) AND you keep on top of your position and be ready to make adjustments as needed. There is another thread on ET that does a similar thing...

I was never able to get into a put spread for March, but it wasn't for a lack of trying! I waiting until there was just over 20 days left making it that much harder to get filled OTM. The market makers didn't want to play ball with me at the strikes I wanted so I was left with just a call...

I use Optionsxpress. ryan

Just before 4:00 today I put in an order to close my 1330/1340 March call spread for .05. I was filled within just a few minutes. The b/a was .05/.15 when I put in the order so I can't complain. Now onto hunting for April strikes. ryan

Very good point, I didn't word that very well. ryan

I'm trying out the double diagonal on paper so I can begin to understand it better. Here is what I have: Sell April 1360 call and April 1190 put for $2.25 + $.80 = $3.25 Buy May 1375 call and May 1175 put for $3.90 + $1.45 = $5.35 Net debit is $2.10 At April expiration if SPX is...

I am going to start paper trading a double diagonal later this week. We will have to compare notes and see how it goes. What strikes are you placing positions at? ryan

A nice head fake from the market this afternoon, bounced down off of 1295 again and back into the red. My March 1330/1340 bear call spread seems pretty safe for the time being. I would like to get a little more downward movement so I can free up some margin and get into April positions a...

Coach, Since you are just sitting around waiting until next week to put on April positions: Alba demands Playboy pull magazines LOS ANGELES (AP) -- Jessica Alba is demanding that Playboy pull its March issue, saying she didn't agree to be on the cover and that the image may mislead...