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That's my problem, I don't have a style for ATM credit spreads yet :D. I greatly appreciate the comments you, Rallymode and Mo have had. Tons of great information on this board. I'm tempted to offer to buy you guys drinks but last time I offered that to somebody the market instantly went...

I did this because I wasn't sure how much more creeping the market was going to do so I was trying to get ahead of it by going CTM instead of ATM.

You're right, I didn't have a lot at risk as it as a small position. It was/is an educational experiment for the most part. I put the first position on a few weeks ago expecting a pull back but the market kept creeping up so I "adjusted" to cap my loss and enter a new position to profit...

Don't jinx me now:p. If we get a rally it will hurt my SPX diagonal where I'm making some good cash on the pullback and pop in the vix. :)

Couldn't wait one more day could I :p.

I finally decided to roll up and out of my ATM XEO spread. I increased the size and am short the Oct 620/625 calls for an overall net credit. So in reality, I closed my Sep position for a loss and opened a new one for Oct. Win some, lose some. I just don't want to lose 2 in a row on XEO :)...

I kind of like that idea, something to work with until ToS offers options on futures.

We are now at the 44 day mark until Oct expiration. Good time for the 45-15 play, volatility is so low I'm not sure I want to jump in right now.

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I'm all for using ET chat, if I have to download another chat software program or come up with another username/id combo I'm going to puke.

It definately comes and goes. I went forever without a price improvement from ToS. Seems like a few of my most recent fills have been a tick better than the mid. Still looking for that elusive pullback in the XEO. My OIH position is pretty profitable at this point. May just hold this one...

The 3 days of time decay didn't bother you on this one? Why not wait until Monday?

This is my second month with a diagonal to test them out (jumped up and did a triple diagonal this time). I also like the easier feeling I have about market moves, it fits my laid back style. I actually cheer for the market to chase one of my short strikes. The hard part is figuring out...

I am looking at that over the weekend. I could bank some profit by closing the short Sep puts and roll to Oct credit spreads. Maybe roll the Sep 1250/Oct 1225 into a Oct 1225/1235 credit spread. This allows me to keep the profit I gained from the Sep 1250 put and open the new credit spread in...

Coach doesn't guess at reversals, he creates them when he hedges or closes a postion :p.

I like the way he uses the end of month and regular expiration options, gives you more choices. I will wait until ToS has options on futures to use that strategy. In the mean time I get to watch others experiment with them and follow along.

A 45 point wide spread? Go big or go home :D!

That's a good point. The diagonal does well with increasing vol but 1275 may be too close for comfort though.

What CTM spread(s) do you have?

I know you are looking for resistance at 1310, I'm concerned about what could happen next week when traders start coming back and volume picks up. I'll admit, things look really good for such a position, I guess I'm being a little cautious. An Oct 1340/1345 spread is going for $1.70.