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Very nice profit in a short time frame on this one. Still holding on?

I think you, Cache and Mo put out some of the best posts that really challenge the "conventional thinking" out there on ET, some people resist that in their own way. Funny thing is, the best information seems to come out during the "heated" discussions but usually the person who started the...

Go to the analyze tab, then click on the Probability Tab towards the middle of the screen. You change sigmas in the prob range box.

I'm just pulling this info from TOS at the moment: June 1 sigma = 1224/1299 2 sigma = 1190/1337 July 1 sigma = 1194/1335 2 sigma = 1130/1409 vol = 18.14% You can also do a rough calculation by taking the ATM strangle for 1 sigma, doubling it to get 2 sigma.

Aardvark, Did TOS show you any "backdoors" to use to check out the stuff they are working on? They showed us one when I went to a seminar last year. The shortcut brought you to their new charting feature before it was released. Who was the instructor at the seminar?

As my good friend Bob would say, "This month sucked balls!"

With such a relatively short amount of time to June expiration would you be going with June of July options?

You've got it. That's why I am moving to the CTM spreads, roughly similar reward to OTM but with less risk as per my paper trade example I posted.

You are making me look at that ugly trade again :(. I took in .55 and got out at 2.30. So my loss was 1.75 or about 3x my initial credit :eek: Here is an update of my OTM vs CTM paper trade: May 16th 10 June 1215/1225 puts, credit of $.50 = $500 with $9500 risk May 17th 5 June...

10%-30% a month is pretty impressive. I've been averaging mid single digits per month and been pretty happy. Maybe I need to up my expectations! :p

I was one of those June 1230/1240 put people. This was the first time I have been burnt since October/November of last year I think (this time was more painful). Even before this month I was looking at the close to the money 5 point spreads, now I am becoming more of a believer. I will still...

Today's action is putting us back down towards the 200 day moving average. Fair amount of data to come out this week , will have to wait and see how the market reacts. Time is short for June and July is a little too far away at this point so nothing to do except watch June positions for now.

.10 under the mid and no fill. Gives me the long weekend to look things over.

I'm trying a small lot of 1300/1305, no luck on a fill yet.

I just got back from playing at the race track today. I'm looking at 1300/1305 or 1305/1310 but that might be the beer talking.

Do the opposite of what we do on this board :p .

Getting close to the 1280-1285 level you said you liked. Rallymode was right on with the Memorial Day rally. Will have to see how well it carries after all the data tomorrow morning.

Aardvark, Don't you have a 1375 call you were going to try and do something with? Probably about worthless at this point isn't it?

I just got off the phone with some investment advisor firm from Chicago (they called me out of the blue). I told him I trade options, not the international ETF's he told me they like to put their clients in. He said "Oh, then you must be trading covered calls?" and stuttered when he said it...

Although nobody likes to lose money, I'm not too worried about it. With other spreads I have open and another I have closed I am only down a few hundred for June expiration at this point. If I can find a good set-up for another spread tomorrow I may take a stab at a fill and see what happens.