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I had it at 0.55 and now I see that the B/A from OptionsXpress is 0.25/1.20. I am not even sure the b/a info is correct The market has given back some of the gains it had. I wanted to wait for tomorrow before getting rid of it.

Coach, My 1280/1285 is in danger but I have to wait to see if the SPX is going to break the 1272.89 high before taking action. I hope It won't break it today.

If you are so scared for 1290/1305 what do you want me to do with 1280/1285? I can't see SPX at 1280 by Thursday. MHO

I love when Bush gives speech. Every time He gives speech, the market goes down. Go back to all his speeches and you will see. I hope He will talk Wednesday and Thursday

If it can close below 1260 today, it wouldn't be bad at all. Anyway Thursday even if it's lower than my short 1280, I am out.

Looking at the latest price: SZPLP/1280=0.75 SZPLQ/1285=0.40 =>0.35 I got an average of 0.70 for it. But I will let the weekend go for additional theta and I will follow it beginning of next week.

Coach, Should I bail out of my 1280/1285 because of SET? I don't see SPX 1275 by Thursday

I made my comments based on yesterday trading action. The big boys were bailing out in the last hour creating the big reversal and I knew the stock market couldn't sustain the pressure it was under last night. 1236 is the 38.2% fibonacci retracement. It could pause for sure at the 1245...

Coach, Why do you use the 33% retracement intead of 38.2%. I go with 38.2% and 61.8% for retracement. So I am at 1236(38.2%) and 1225 (50%).

25 points from wher we are is not a big deal. That's something that can go away within 2 trading days. It was a way to say that the trading action was very bearish yesterday and any catalyst can drive this baby down. I didn't mean to upset you guys.

Today was a good one. Breakout failure. I was sweating for my 1280/1285 but I felt much better at 3:30PM . Consolidation to 1236 is very probable by next week. I am looking at putting my PUT spreads tomorrow or thursday on any down day.

What trades do you have?

My analysis put me at 1175/1170 PUT 1330/1335 call for High Support/Resistance. Anyway I am still nursing my 1280/1285. I won't react unless the 1270.64 is broken. This week I am going to double on the PUT side if the price is right.

How much did your roll-up cost you?

I think We have seen a short term top at 1270.64. Fibonacci level 1.382 at 1271. There is a lot of profit taking at this level. 1287 will be the next level. so if it breaks 1271, my 1280 will be in trouble. The reason I think We are topping short term is because there is this pattern...

The support for SPX should be the Breakout area (1246). I am hoping by Wednesday or Thursday it can reach it. I have my 1280/1285 and I am not ready to do anything with it. I sweat a lot last week and I never thought about rolling . I am going to let it rock and roll. I am looking...

Coach, I a sweating like a duck with my 1280/1285. I don't want to do anything now. I wanted to wait for it to touch 1270. Should I wait? Thanks

Coach, It would be stunning if SPX didn't come back to the Breakout area. They always come back to test it. I am watching it but I am expecting a test of 1245-1246 whithin the next 5-6 trading days. I am waiting for this to place my PUT Spreads. Are you seeing this too?

Coach, When are we going to see that pullback. What would you do with a DEC 1225 PUT that you have now?

I have 30 1280/1285 for $1800.00 credits. This morning I was waiting for the market to pullback and I don't see any; So I decided to buy 6 SPY 125 for $900 about 50% of the credit I got. I hope that will make me sleep more comfortably for the next two weeks at least. Coach what do you think?