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I'm not sure what IV was thinking but I've been thinking of possibly using strangles to set up the backstops ie...for dec 1180/1280 buy them...then as the market moves toward the call when you think its near the top sell the call...likewise when mkt goes down sell the put. This is obviously...

so much for woman's intuition....I just "knew" spx wanted to end between 1230/1235:D ...a tip of the hat to TOS..I finally decided to bail on my 1245 and put in a .50 bid with 10 min to go...of course the bid jumped up to .70/.80 ask 1.00 ...with 2 min left I saw the bid go to .40 and...

I had gotten fairly good credit on 1180/1165 you might try that on the next down day...

Hi IV could you please elaborate on what cascading entry of short strangles is...tia donna

I'm so bored I'm re-reading the thread:cool: are you still experimenting with this idea? how is/did it pan out tia donna

I'd second that motion..I've traded PFE a few times and it does seem to be a good value candidate are you looking at a call or put calendar?

hey...my itchy trigger finger was NOT meant to be funny :p

call it women's "intuition"..actually I decided to play the (non) volatility of this month in part because these message boards have been so quiet:D thats the best indicator of volatility out there. I'm still holding on...if spx gets within 5 pts of either short (1220 put or 1245 call) in the...

You could be right because late yesterday and early today the IV was around 12 I think...I think my positions are perfect :p actually I just put them on in the last week and sort of playing it as a weekly...as of today I can close the nov current IC at a profit but I'm waiting to see if there...

Thats very interesting because on my TOS platform the IV on the nov 1245 calls went DOWN today and is currently showing 9.97% so do IV's vary depending on the platform used???

Hey coach even you can't be a %100 predictor:D

I feel your pain:( hate that when it happens) my short nov put at 1220 looking ugly but not willing to get out just yet...wait and see...however did sell my Dec p/s 1180/1165 for 1.10x40 call sp is 1185/1300 for .65 (last wk)

I've been watching my two shorts..1220 put side and 1245 call side and its been interesting to see them back and forth...IV and probability...I like the last two days but know there will be at least one strong day...up? down? (tomorrow?) my crystal ball is cloudy...what does MACD say?????

oops hit the send button too soon :D If you are talking sports a better analogy would be sky diving...thats taking a risk. You do need an airplane but once you jump you are on your own. You pick when to jump based on being able to read the wind currents...how you get to your target...using...

Thanks for the correction I was obviously misinformed..read somewhere on a thread they didn't allow naked puts or spreads.

I like your Bear Stearns play...my new theme is buy the companies that manage/trade other people's money. I hit on this theme when this summer read about some guy running a $100mil fund that had a $30 mil home....hummmm.. so bought GS, recently did a Bull put spread on CME (dec 360/350 cr...

I don't (use a lot of tech ind...I have people:cool: ) but very interesting...however if MACD is a lagging indicator you then do not use it for lets say day trading but swing trading?

its ALZHEIMER's...and DON'T patronize (to adopt an air of condescension toward) your mother :mad: :mad:

The beauty of a computer is that it does not know if you are a man, woman, color of skin, creed, or your religion. If we were not in the electronic age I would not be trading because I would have to talk to men....and deal with their preconceived ideas...(not all men of course) I can make...