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Ryan, Good to hear you didn't make a large loss. Just curious how you didn't come out better. It's been a pretty quiet month hasn't it? lol, what do I know? Seemed like a perfect month for put spreads given the residual IV inflation from last month's shenanigans. Momoney.

Nick, Just wanted to clarify a few things: 1) You've chosen to practice a long vega position: the caledar. Is this because you think that volatility will rise over the next few weeks? 2) Will you be continuing with the iron butterfly/iron condor strategies? 3) How do you propose to...

I aim to please :) Tales of your itchy trigger finger likewise brings much welcome relief and levity to an otherwise staid environment.

lol yes, your IC is looking pretty solid right now. Good call.

Donna, Technically yes. It depends on what model is being used to calculate IV but in general most platforms will be using the same BS model etc. or close enough. Just a hunch but the value reported by Ryan might have been before the sell off in the afternoon and as my previous post...

Ryan, Without looking into this in detail I would suspect this is more to do with the Nov 1245 calls moving along the IV skew over the last couple of days. This close to expiration and the skew can become pretty steep so even a small move of the underlying can impact the IV, and by...

That's genuinely classic.

Okay, Phil has taken off his bear put spread so it must be time to short the market lol. Facetious mood today, sorry. Momoney.

...and there was me thinking MACD was somewhere to get a Big Mac and fries. Next you're going to tell me that RSI is not something you get when you type with bad form. Momoney.

Nick, What was your reasoning for legging out of the call spread? Is this going to be part of your overall strategy (legging in/out) or was this a one-off situation trying to read the market? Just curious. Momoney.

I'll write that Call. I'm only on page 50 (have my ET options set to show 40 posts per page, much easier!) lol. Momoney.

Start here: www.etfconnect.com for research. I believe Phil has hinted at his preferences before here: http://www.elitetrader.com/vb/showthread.php?s=&postid=848603#post848603

....think you have me confused with someone else. I have no positions on the NDX! Not in a hurry to get a stomach ulcer lol. Any comments I made were pertinent to YOUR position. Momoney.

Joethemoustache, Nice spreadsheet. Had a quick look at this if you want my wacky opinion. More sane opinions to follow from others I'm sure. You might want to add a "mid price" column for both the individual options and the 10 point spread so it doesn't look quite so depressing lol. You...

Rdemyan, I hear what you are saying but I'm not sure I fully agree with your assessment. With an IC, I agree there is no additional RISK but you ARE reducing your CHANCES of success. For example, an IC where each vertical individually has a chance of 90% success is actually an IC with only...

Firstly, lets acknowledge that the God of probability is probably (pun intended) as much a false idol as the God of TA. You may indeed worship both or neither. However, you have to make decisions based on something. Secondly, I'm pretty sure I know what you're asking but before we spawn an...

Just on that small point. I'm sure most people are aware, but for those that aren't, this is one of the artefacts of the IV skew. What that means is, when using the delta as a shortcut it is important to realise that it is more representative of the IMPLIED probability. On indices such as the...

Okay, I'll play yin to Phil's yang on this one. I wouldn't know my EMA from my ass i.e. I don't pay much if any attention to TA including support and resistance. However, from a probability point of view, if you are basing on current ATM IV of Nov options 570 has about 22% chance of...

ouch! oh well, live and learn. That's interesting. Are you saying that the short weekly 1235 calls are not being treated as naked for margining but rather as part of a diagonal? Seems generous. I suppose that although both weekly and monthly short calls can be ITM at the same time, they...

Parisd, A quick stab at these: It depends how agressive you want to be, how wide the b/a spread is, how wide your spread is, how many lots you're trading, which way the market is moving and...probably a few other factors. Sometimes you can get filled at the mid on a two leg spread. If you...