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all is going well, my position is holding I am still long mar 08 57 call and mar08 39 put I am still short sep 50 call and oct 44 put. As of last check my account is up $13 for this position. By next week sept 50 call expire I can sell oct call and start making money.

windsurfer that is interesting thanks. Where did you get this data? Do they have it for other markets?

ES bid ask spread is pretty wide. But because most of the time I let it expire worthless so I do not need to worry too much about it. I prefer ES because it is electronics trading/ Now sure about QEX

I only trade index futures options. I do not trade stock options. How much do ES gap or drop. As long as market is coming down point by point even thou it can be fast I can still do adjustment to my position as long as it is not a gap down. Sept 11 2001 ES gap down 54 points when market...

my main trading market is now ES. Most of the time I sell ES naked Put. Call side has not much premium. Wait for ES to make a dip from the high. Put premium will rise. IV will rise. For a start aim at those put that is 1 point and below 2 points. Assuming 1 point (USD50) that trade will...

relax guys, focus your energy on the markets. If you are good prove to yourself that you can make money from the market. If you already are making money like me, then work hard and earn more. Prove to yourself. forum is a place for discussion and exchanging of ideas. Well you can shoot...

to clarify the title of "almost risk free trade" now come on if you have been trading long enough, you know there is no such thing as risk free. Not even such a thing as low risk high return. Low risk low return or high risk high return or high risk low return Before this I post the same...

I have as little experience as you have in stocks options or ETF options. I am a futures options guy, my main trade is ES. but ETF options look good for diversification so I will be looking into it more this 2 years.

I roll my position to oct 44 (debit of about $30). I choose 44 so that it can allow more room for me to play. I could have roll it to 45 with even money or rolling to dec 43 with credit. So by expiry oct if it stay above 44 I could sell nov put for credit. All this while I would still be...

for those following this thread. QQQQ has hit 46.50 almost time for me to do adjustment. I will readjustment when it hit around 46.20 or 46.00. There should be no loss. I will post here when I have done adjustment on my put

hi I thank everyone for contributing to this thread especially verbotenlaandia and daddys'boy. They offer valuable advice to my strategy. I am in the midst of the trade. I will only really see result when my long options expire in march 2008. But I do think this strategy will work well...

Hi Lar, this strategy is worth looking if you are looking for a low risk options trade. QQQQ is 1 of the most liquid options contract so bid ask is not that wide. I learn this from someone else that trade stocks options like AAPL IBM etc. He teach me this method and he have been doing well...

it have to roll as it moves otherwise you have no protection once your sold options get ITM

hi thank you daddyboy well said. Appreciate your comment

Hi verbotenlaandia thank you for your input. Appreciate it. I have put up a trade and will try this for the next 6 months and see how it goes. Cheers

Again this is only the 1st month, this is a diagonal condor. 1st month I make $0. If the 1st month I have to roll my put my call will not have to roll. My long strangle expire on mar 2008. So if I don't have to roll. Oct I will collect premium put and call. Nov collect put and call Dec...

yes that is what I am referring to yes it don't have to gap down $7 but if it gap more than $7 that is the max I loss that is why a protective wing is in place. That is why QQQQ is pick as it is index ETF and it don't gap that much (not saying that it will not gap) but it is more prone to news...

hi care to explain more on this?? Everytime I roll the risk is reduce on the put side. Everytime a roll there is no debit involved and possibly a credit. Only the duration is drag 1 month. When you roll to Feb 08 40 put. If QQQQ drop near to 40 there is no need to roll anymore. Closing the...

yes as mention the max risk is if I do not do adjustment. Bearing in mind that QQQQ is a index ETF (nasdaq) The illustration here is for the put side (call side will be the same) If QQQQ drop to 46 (close to it). Buy back the Sept 46 put and Sell Oct 45 Put. No Loss here and possibly...