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This is great advise...I thought long and hard and decided not to invest any greater amt into this strategy. I will keep it the same until/unless mkt dictates otherwise. I hope to learn more abt other strategies this year and most of all to quit doing STUPID trades :D

you guys not doing anything tonight...either:D

I too want to wish all the happy little hitchhikers on this thread a safe, healthy and prosperous New Year. I believe in giving credit where credit is due and want to especially thank Coach Phil for starting optioncoach thread on Yahoo...writing his book...and especially this thread...

I think you need to define pressure. The pressure of making or losing money? If you are a believer in Christ then " render unto Cesear what is Cesear's and unto God what is God's".... I do not see how religon play's any part in investing or in any way helps or hinders one's investment...

Thats a great Freudian slip:D

I actually meandered over to this board from the yahoo boards...optiontradingcoach (started by Phil..option coach)and optionclub (started by Chris Smith) Both boards give a wealth of info on option trading.

My new years wish would be for some of you guys to actually start a volatility trading thread...no offense to the author of this thread who is basically trading stocks (straight calls/puts)....

I actually did post the trade on the 16th (see posts on dec 16th)....but I've never been able to take advantage of anyone's trades :D even coach! I'm sweating my 1225 short put:p

I did it thurs of exp week in dec...got .60 for it

Thanks...makes sense in that context...

Hi SS I'm interested in why you say be careful abt selling 4-5k per 100k...are you speaking about selling the straddle/strangle or is this a general recomendation which would include the IC...say on the spx. Straddle/strangle... I guess you would be hedging with stock whereas the IC on the spx...

yield curve inverted (briefly) low vol plunge

Hi Don...since you are an options trader what are your thoughts on investing in TLT and selling calls? Another fellow on an options chat said he had been doing quite well...the TLT was paying I think close to 5% and collected the add prem on the call...so I've been looking into doing that as well.

HOW do you know that?

WE need to get a life!

I'm sure your right about Fri and theta but any excuse.... Just looking at the strangle more as long vega not as hedge...decided that the otm credit spreads are hedged as they are and as part of over-all portfolio positions.. so I am not going to try and specifically hedge them (the spx...

The other thing I've been looking at is buying the straddle for Jan or Feb...initially looking at 1245/1310 I think it was 9 bucks then went down to 7 (few days or week ago)....

I decided to try and take advantage of the low vol and 3 day weekend and have extended my put spread down to 1210 (from 1225/1220) my short is higher than coach's but hoping he and others are right abt Jan...one thing is I never feel comfortable selling the credit spread..I'm getting used to...

nice!:p I had previous lost from OEX about $150 so now I'm $600 positive. [/B]