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Thanks for the info. I always close my ITM Credit Spreads before Expiration, but I was curious what could happen if I didn't. (i.e. If I went into a Coma or Died with open positions, would my family end up with an empty account or in debt?) I'll present a few scenarios to t.o.s. tomorrow...

P.S. And for all these DICKS on this thread, who are saying Trends don't exist, and are harassing you, etc. I have 2 questions: 1. What do you call all those lower left to upper right formations on chart after chart I look at everyday? How did those patterns form, by total random chance...

As far as I know it works something like this: If I don't close the AAPL 600/595 Spread before the bell on Expiration Friday and AAPL closes at 599, the AAPL 600 Put I sold has closed ITM and my account is assigned 100 shares of AAPL at the strike price of $600. I don't need to have $60,000...

Never have, no. Just checked, and HUI has no options. What the difference is between HUI and GDX or GDXJ I'm not sure.

They even "staked a claim" to their own index! :p

Michael, Just finished reading "Trend Commandments". Really got a lot out of it and couldn't put it down. Many thanks for a really positive contribution. I know for a fact Trend Following works, in sort of a back to front kind of way. Because I now see how much money I WOULD HAVE MADE if I...

This sounds like an interesting angle, but I don't quite understand your use of the term leverage. As an example: On April 26th I sold a January AAPL 600/595 Bull Put Spread for a credit of $257.00, with a Max Possible Loss of $243.00. So I had to put up $243.00, was credited $257.00, and the...

Unfortunately, there's a much larger margin requirement for selling Naked Puts, and one also has to be happy owning the stock in case of assignment. Neither of those conditions are good for me right now. It's definitely easier to be sure of support areas versus resistance areas during Bull...

I now have Calls and/or Bull Put Spreads in all these underlyings, with expiration dates ranging from November to March: GLD, SLV, GDX, GDXJ, SLW, and GG. So far so good with all these positions. We'll see if the current rally in precious metals continues next week. Here's the latest...

There are more commissions on an IC, quite right, so that needs to be factored in. There are other variables too. You can choose a top and bottom and open the IC today, or you can leg-in. You can sell the Bull Put Spread after a Bull Flag and on a down day for a much larger credit (the Puts...

With Iron Condors you get a larger credit for the same amount of risk. 1 SPY Bull Put Spread = $100 Margin 1 SPY Bear Call Spread = $100 Margin Combine the 2 into a SPY Iron Condor = $100 Margin (because you can't lose on both sides at once, etc.) The "catch" is you've now drawn 2 lines in...

I was assuming SPY would stay above 127 for a couple of more weeks, yes. But if the SPY does ever drop 50 pts. in one day, head for your bunkers, because those are nukes falling from the sky! Anyway, I don't need this stress near expiration each month. So will probably be avoiding Iron...

An update on my SPY September Iron Condors: The upper legs are/were 141/142, 143/144, 144/145, and 145/146. So I've had to close out the first two for losses (-$17 & -$23), and am now worrying about the last two! Therein lies the argument against "non-directional" trades. Even though SPY...

Another pattern I keep seeing on these charts is 126.48 as the neckline of a H&S Top. The 141.48 peak is the left shoulder, the head is starting to form now, and the right shoulder will form after that. This "long in the tooth" Bull Market will then come to an end, as SPY collapses through the...

Oooo.... Not pretty. That's why I don't like angled trend lines! :eek: Will be interesting to see how all this plays out.

I see your point. The move from 141.48 to 126.48 wasn't nearly as deep as the corrections in 2011 and 2010. I've been counting 126.48 as a Higher Low, figuring if it was taken out it would be the end of this Cyclical Bull Market. So you're saying SPY could fall below 126.48 without ending...

Fine by me. Makes total sense. So do you think the odds favor this 4th up-wave continuing then, with QE3 just around the corner? I lost a ton of money in '09 because I kept contra-trend shorting a rally "that shouldn't be happening". A very painful lesson. Never again. "The Trend is Your...

Looked into the 07/23-08/31 move in Gold, Silver & Mining Stocks, and came up with these stats: GLD +7.84% SLV +19.25% GDX +18.66% GDXJ +21.83% SLW +37.79% EGO +35.79% AEM +32.89% GG +25.76% ABX +24.90% GOLD +24.78% AUY +24.31% NEM +18.00% KGC +16.04% AU +0.80% Details for...

Just looked at monthly chart from 03/01/09 to 08/31/12. SPY went from a low of 67.10 to a high of 143.09 in those 41 months. And yes, there are 3 distinct waves up to higher highs, followed by pullbacks to higher lows clearly evident on the chart. We're now in the beginning of the 4th wave...