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A thank you from all the "look-e-loo's" good luck!

You talking to ME :D :p

Remember your order is a "limit" order, they will try to get that or better...I've been filled for better than limit several times...

Part of the problem is the lack of interest exp at 1205 and 1210..if we go down a little more next week interest should pick up....I'll be looking at 1225 for my Feb short..holding the 1215..hoping for further down action

bought 1215 put (50) @1.9 also completed call spread by selling (30 )1345 for1.33 (average) so...holding Feb 1215 P Feb 1345/1350 X30 call spread and 1340/1350 X20call spread... I have been wanting to try buying the strangle then legging into the condor and somehow this month seemed to give...

exit

Thanks Cache...

One more thought. I did a scary thing and looked at the spx 10 yr history. 98 and 99 you would have done fine with OTM puts..2000-2002 crazy..some days...yes DAYS there was a range of almost 200 pts in the SPX and we think 20 is a lot. backtesting this strategy would be fruitless as there is...

well, I drummed up some capital today by exciting my RMBS trade..what a succky stock. I no that no one will shed any tears for me but I'm sold out at 15, couldn't stand the pain. If husband knew..."Donna...we could have MADE $30,000" yea yea yea...didn't:eek: ANYWAY I think tomorrow will...

What Turner book? I'd love to read a book on options written by a woman:p

I did the L&T in Denver last sept...don't be afraid to put on the trades. The position and Port management just is about allocation and risk management less abt options..I think

not going to that one but you will really enjoy it..we'll be attending the Las Vegas portfolio management one on the 16th

If you sell the body and buy the wings you paid 1.70 (right?) so at 26 the value will be .70 and you will have lost 1.00 on the other hand if you bought the body and sold the wings then you will make .70 at 26 (and give back 1..again right?) sooooo if you are truly neutral and believe the trade...

The REAL reason we as human beings don't learn from other's mistakes is that we tend to rationalize we are better, our situation is somehow "different" blah blah blah..." I would never be THAT stupid"!.:eek:"

agreed it really is risk control..knowing the risk and when to cut the loss. I haven't had as much problem cutting losses as doing "dumb" trades out of boredom or other poor reasons...at least I will recognize "God that was dumb" and get out :)

good going coach..I'm amazed you got filled on so many contracts ...stupid open interest...whats up with the 1150,1175,1200,1225 they all have 20thou plus while in between strikes have a paltry #

sold (partial # of contracts due to BP limit) 1340 Feb call 1.4 (net .8)..living on the edge I guess

I'm sure someone will correct me if I'm wrong...max value is 2.5, max profit is .80 (2.5-1.7) If you are neutral on the stock you might consider selling the b-fly (sell body buy wings) collect 1.7 (and the interest on it for the month) risk is the same 2.5 (give back the 1.7 plus .80)...if...

Given the nature of the strong move up, unless Q4 earnings are a real disaster I think your pretty safe, can you still get decent prem?

however if it is GTC would not that carry over to the next day? so your order would be finished perhaps the nxt trading day? At Harris this happened a couple of times for me.