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For JUN, you mean?

I assume both you an Rally are looking at JUN?

Riskarb, what are your thought about this price action?

Does a double top on the VIX hourly chart mean anything?

Ys, but today has a capitulation feel to it... I'm willing to bet we've put in a short term low. Glad I held on to the 1300/1305... just lucky this time...

Agree, but we are down over 50 points in less than 2 weeks... a bounce/consolidation phase is due about now...

Anyone looking at put spreads today? Risk is that we break through 1280... then it's down...

8 points lower but VIX is not climbing much. :confused:

Expecting tomorrow's CPI to be over 0.2%... SPX goes lower... although I wonder how much lower NAS can really go? :confused:

Aardvark! Just listen to yourself! You are starting to sound like riskarb!

Rally, that was helpful. Thanks.

Rally, the lure of lost profit can be very, very strong. How did you learn to take a missed opportunity over a marginal trade? Can you suggest a mechanical set ot steps (or thought process) which would make this mindset easier to implement?

Can you give an example trade on the SP and compare it to SPX? What are the spreads and premium on SP like?

Thought there would be a bounce today... but nothing so far... any thoughts?

I just went throught this whole thing this tax season. Here's the summary: Options on SPX/OEX fall under the Section 1256 umbrella which means that they get 60/40 tax treatment (a wonderful thing), loss carryback up to 3 years (instead of loss carryforward) and are marked-to-market at year's...

Options on SPX get 60/40 treatment...

You get 60/40 on options on SPX, OEX and futures, not options on ETFs such as SPY, DIA, QQQQ,...

A, what credit are you looking for?

Rally, well I held on to the 1305/1300 put debit spread from Friday. Thought about closing it but didn't. I bought it at SPX=1308 for $1.80 and closing value on Friday was $2.50... even though SPX had sunk to 1291. The b/a was just too wide and I felt "cheated" to close. Next time I'll do at...

Famous last words (read: extract head from sand)...