You are Deep OTM ...... Try Deep ITM (calls or puts).
I get the feeling you forgot about mentioning a DeepITM-Put-Spread on some major index underlying in your original post, trade #2.
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I assume you are referring to me.
You have missed a small detail. Go back and read this thread, and see where your trade fits into this discussion. You get a F for your post.
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Google "FireFox Auto Refresh" for some plugins.
http://www.google.com/#hl=en&source=hp&q=firefox+auto+refresh&aq=1&aqi=g5g-s1g4&aql=&oq=firefox+auto&gs_rfai=&fp=93c3c78db929eee0
http://www.youtube.com/watch?v=kQB-zOp8muE
That's up to you .... I'm sure the OP would be grateful of an actual DeepITM-Put-Spread example. We are on page 4 without any real examples, lets not get to page 5.
PS ..... You have a "typo", for some reason you switched from Deep ITM to ITM. That's a significant change.
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DeepITM-Put-Spread
The bid ask spread, plus commissions gives you a guaranteed loss, post some actual paper trades for a closer look.
DeepOTM-Call-Spread
1 bad trade wipes out 20 good trades, post some actual paper trades for a closer look.
Please tell me whats wrong with that...
IB offers the weekly options ...... I use IB's WebTrader, just enter strike and they will come up. Keep in mind that there are no weeklies during expiry of the regular options so nothing will show up at this time. Weeklies are issued on Thursday.
This Thursday - August 19 - the Aug 27...
Read the patent. Her method is covered calls. Patent Application
Small portion from the document:
"15. The method of claim 13, wherein the step of selling covered call options includes selling covered call options that expire in the next calendar month, and selling the covered call options...
And then combine that with her application to patent her method, which is Covered Calls, the investor carries all the risk of a downward market, and severely caps gains with the covered calls. But her method is "Patent Pending" so it must be good.
This would have been a good trade. Buy the POT Aug 2010 135.00 call for only $0.06 at the close yesterday and sell today at $6.00
http://finance.yahoo.com/q?s=POT100821C00135000
Here is a insider trade made before Placer Dome was bought out by Barrick Gold in 2005. If my memory is correct Placer Dome was a $20.00 dollar stock at the time.
http://www.resourceinvestor.com/News/2005/11/Pages/Cracking-Down-on-Tipping-and-Insider-Trading.aspx
"According to the SEC, on...
As usual EliteTrader's search function can provide interesting info: http://www.elitetrader.com/vb/showthread.php?s=&threadid=63678 Looks like she has a patent application in for covered calls and the thread is good reading on potential motives for trying to patent a trading strategy.
Direct...
I think you are too cautious with this approach, no need to exit when both legs are OTM. I would exit when the short legs reaches ATM, and not a day later.