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Stopped out at 44. Now Short 46.25 stop 49. Target 35.

Stop tightened at 1344. Good night.

Stops and targets are OCO orders. If I don't post a change then the OCO remains in place and if the stop or limit (target) is hit, then that's what the exit it is.

OK. I am going to do this (post a trade). Short 1341. Stop 1345. Target 1330.

Like asceding and descending wedges.

Yes. You are correct.

Atticus, I appreciate the comment. Interestingly I fit the profile of the thrifty type. I retired last year at 56. My cars are 9 and 6 years old. I don't clip coupons but my wife sure does. Interesting. You are selling when volatility is high meaning it will probably snap back down and...

Honestly though I have a hard time understanding the allure of this strategy that apparently many think is great. It's bullish directional really and if you win, you profits are limited. If you are bullish enough to sell a put, I think it's better just to go long the underlying with a stop and...

Personally I don't do these often (not never) and not a big fan, as they have the risk profile as covered calls. And not a big fan of cc either. But, that's a personal preference. As long as one realizes that the expiration graph may be well above the unrealized loss prior to expiration due to...

Last word from me on the matter: Be careful man.

except for the es (often it's SPY instead) I dont trade futures as a rule, so i don't know what kinds of vols you are dealing with on your future options. SPY vol seems fairly low. Maybe a good time to buy wings on not too far otm index options. I hesitate to mention this as it is so...

I am not an expert. However a few of the people who responded to your posts are. However the risks of selling OTM naked options is usually covered up front in the good option books - it's like Options 101. a number of years ago I sold a bunch of equity strangles. I made a lot of money. But...

Some of these boys beating you up on this subject really know their stuff. they aren't beating you up for sport. You are getting beat up because you are quasi marketing yourself (your "firm") in a public forum as a qualified option trader promoting a highly risky strategy who in each post...

Short out of the money options are positive theta.

This strategy you can win most of the time; but when you lose you can lose big. If you're making good money on selling wings, that means you are probably selling a number of contracts. Your positive theta strategy can be crushed by a big move against you and a corresponding increase in...

I am glad you are done with your argument.

I don't post often. But, I do consistently follow some threads. One of the best summaries of TA 101 I have yet read on ET. Support, Resistance, trendlines moving averages mentioned (reversion to the mean implied) and corresponding entries, stops, targets based on one's own trading plan...

I’ll stick with the subject and not discuss experience, trading ability and strategy. A couple of others hit that nail very well. Stop placement can be a cause but I don’t think it is the primary cause of losers in the futures market. Leverage relative to account size is the bush you...

Options as a percentage are a small part of my portfolio. When it comes to option spreads, butterflies is pretty much all I do. As a standalone I agree they are a lottery ticket. If you do a round trip buying and closing out you have commissions for 8 contracts – so they are expensive...

Doesn't the BXM index depend on an assumption and actually is based on the assumption that all covered calls are closed out at expiration? If so, a sharp decline of the SPX the BXM assumes the trader can hold the covered short calls until expiration has the cash to cover a margin call or not be...