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I go off the NBBO spread and look at what the spread is on the individual contracts to see where I might get a fill. ryan

NBBO Spread Quote An NBBO Spread Quote reflects the best quotes printed from participating exchanges on each leg of the spread or other combination combined. For a long leg, the NBBO single leg "ask" quote will be used, while short leg quotes will use the NBBO "bid" quote to combine for a...

It's too quiet in here, time to bump us to the top of the list. Coach's call hedge is working for me today, pushing the market down and helping my call spread. I'm looking at put spreads for March but being so late in the cycle it is hard to find good premium at a strike I am comfortable...

I haven't read any of Natenberg's work but for credit spreads I would recommend The Complete Guide to Option Selling by James Cordier, Michael Gross They focus somewhat on commodities but not that much, I found it very relevent and easy to follow/read. ryan

TradeKing has a cool probability calculator that I just found today. I haven't funded my account there though (still with OX) as they still show 0's for SPX delta and IV. I first complained to them about 3 weeks ago. They are aware of the problem and are working on it but they don't know when...

I couldn't get a fill on the 1210p/1220p yesterday, with time ticking away I'm not sure if I want to go higher and chase premium. I may wait out March on the put side and look for April positions. Right now I have a 1330c/1340c position and I need the clock to tick a little faster for this...

Shouldn't you be selling the March and buying the May calls? Then you can roll to April and again in May if you like. EDIT: never mind, it just dawned on me that you are intending to do a reverse calendar. ryan

I didn't get filled. I left my order open during the aftermarket somewhat hopeing Dell would report good numbers and push the mid up and hit my offer. Didn't happen though, oh well. I will look things over again and see what I can do tomorrow. Probably a slow day at the market tomorrow so it...

I'm not getting anywhere with my 1335c/1345c spread. I started at .05 under the mid and now with the market up the mid has actually dropped a little. I will wait it out, if not filled today (which I don't expect) I will be back at the drawing board myself. ryan

The market is just waiting for you to put on some sort of hedge so it knows which way to go lol :D ryan

Finally got out of my only Feb position, 1205p/1215p. My order got closed for .05 while I went out to lunch. I'm not sure where I want to be for Mar yet, been following what everyone is saying here. It has been hard to get a handle on the market lately. I will probably wait until Thurs...

You talked about a prego fly a few weeks ago and now you are talking about baby flies. Gestation period must be pretty short lol! I am finishing a book called Fortune's Formula that discusses the Kelly formula and Ed Thorp (among others). Pretty interesting reading so far. Cottle's book is...

Maybe I am missing something. The original credit from the 1265/1275 spread was $3.65. If he purchases the 1255/1265 spread for $4.70 (current mid for arguments sake) he has a net debit of $1.05. Max profit would be $895, max loss of $105 now instead of $635. When I looked at the quotes...

Just a quick thought, look at the cost to turn it into a butterfly. I've never done a butterfly but in looking at the quotes right now it might not be a bad idea to hedge your position and possibly provide a profit. ryan

Hello Mr. Obvious, please meet Mr. Sarcasm. ryan

Now you just need to add the $2000 seminar, the $100 monthly software charge and you too can have an infommercial! :D ryan

Are you saying you had to go .50 off the mid or was $9.50 just your goal? How far off the mid did you have to go to get filled? ryan

That is true, the examples we used were on the IWM. He was generalizing when he said go +/- 2% on the indexes. ryan

If index is at 100 than pick the 102 or 98 strike to short. If your spread is 10, take in at least $3.33 in credit When your spread is valued at $1.00, buy it back to close the position and you will be left with a $2.33 (or more) profit if all works out well. ryan

Ok, third time typing this, computer keeps crashing and eating my message before it gets posted :mad: . I attended the free TOS Beyond the Basics seminar a few weeks ago. These guys really know there stuff! Tom Sosonoff was the instructor for the meeting along with a former OEX floor trader...