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I'm on vacation and haven't really caught up to the thread. Just an update on my position. June 1225/1245 put CS. Rolled today for a debt of $6...originally received about a 4.60-4.85 credit (haven't done all the math yet:)) so taking it on the chin for over a buck..ouch.. with risk for next...

I don't think they literally put it in writing...after all that could be construed as a "written guarantee":) Don Kaufman and others just reference what some of their clients do and what is a good probability of accomplishing with your option trading allocation. NOT your total portfolio.

btw are you still doing the Iron Fly's on the weekly's? working ok? I've had one hit and one miss on the long side, also how are the fills? and volume?

I actually like it a lot. I have a position on Jul 1240/1225 put and 1310/1325 call IC (credit 6.70) that I want to hold for a couple of weeks to get some theta and possibly lower vol profit...we'll see. I may paper trade yours:cool:

my mistake I was looking at June your correct selling the straddle and buying the wings does give you your points and again I think a possibility as long as vol goes down and strike stays close to 1250.

I'm on the tos platform as well and I just don't get what you are getting...are you are the "real" or paper trade side? cuz I heard the paper side was messed up do to upgrading. If your on the real side just make sure that 1250 call and put are BOTH either + or - perhaps someone else can...

also your max loss is much more than that...look at it again...remember and Iron Fly is short(long) the MIDDLE strike...

buying or selling? buying (+1)1315call (-1) 1250p&(-1)1250C (+1) 1185 put.....is this the position?...because I get 22.85 per contract... which just means your BE is 22.85 either side of 1250. So if you buy the IFly you want the spx to be close to 1250 in July and the farther away you give...

your monogamy (to JA:p) is commendable:) Tues PPI, Wed CPI and Thrus Fed...should be an interesting week!

Thanks Art...

I also have enjoyed your thread very much. However don't understand why you would be sitting out the market when the CzarChart is "urging" to be long? I re-read your initial statement that you are 100% mechanical and that discretionary combined with mechanical is the worst of both...

I asked the exact question abt three months ago. Options are more commission intensive and initially you will spend a lot but as you learn and do more volume your expense will go down. I'm shooting for less than 10% and even under 5% (with TOS) One account I have is under $40,000 so I actually...

Funny...I'm LEAVING CO for a vac in San Diego tomorrow...unfortunately taking the laptop with me:(

ok...so...do you EVER sleep?

He remembered ME?:)...does he know I still have short 1245's:eek: any "special" advise?:p

I think you are having WAY too much FUN in the SUN while the rest of us are sweating out our shorts!!!!!:D:D

one more question:p when you say negative edge a lot...what do YOU mean by that? coach isn't the fed the 28th..

toe in water with weekly call debt spreads...two weeks ago with good success this week....may be not so good:p BTO 1265 call yesterday for 6$ looking to sell the 1280 but market so far not behaving...still thinking next couple of days are up:confused:

I was thinking the same thing...however isn't a bi-bolar market rather perfect for an IC? :p that way we can worry about both ends of the market:eek: I know...I know...this is NOT an IC thread:)

of course...WHO doesen't?