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Mo, Could you please explain a bit more in detail. Is this the right way ? Supposed SPX is 1260, buy 1260 ATM put, then buy stock to have delta = 0. When SPX drops, sell OTM put to reduce the delta. Somehow, I don't see how am I going to benefit when the market drop further more...

I'm just experimenting with variety kind of startegies. I wish to show you the performance but it would take me a whole day to track all the trades I made. I tried to report loss/profit on this journal as much as I could though. Eventually, when this journal is one year old and I'm still...

Agreed. Each rolled over incur a loss but they did not advertise it. Let's look at optionsmart QQQQ vertical spread they made on 11/30/04. Bought Jul 32 P, Sold Jul 38 P for $0.29, and after many rolls over, bought them back for $0.10 on 7/13/2005, 3.4% gain for 225 days (Rolled over on...

Chartbender showed up a lot of good IV mainly in fanancial sector (GS, MER, LEH, BSC). This is also correlated to put IV in xlf. I had GS already so I did not want to sell another straddle in this sector. I decided to close out GS near the end of the day. I'll probably save margin for GS to...

Coach, Congratulations. I learned a lot of trading from your posts more than any books I read. There is no books teaching option trading together with risk management like this trade. I wish you success in your full-time trading career. People said chaning career/jobs is a big stress in...

SOLD -1 VERTICAL SPX 100 JUN 06 1240/1230 PUT @.60, SPX MARK 1284.16 Bought back June 1290P for $118 profit after commissions. Sold Jul 1265P for $98 profit after commissions. I don't want to risk if the market come down on Monday and end up loosing on this SPX diag. Sold CHS June/Jul...

Report on put Diag Jun/Jul 1290/1265. As an experiment, I bought a put diag 1290/1265 Jun/Jul when the market was around 1295. Now, with SPX at 1285, the put diag shows paper profit $410 on the short side and $100 on the long side :-) I guess I'll try to close it out tomorrow. When the...

I was away from my computer most of the time today until now. There were two GTC orders filled. Bought XOM 65 call for $0.05. So, I convert XOM 60 straddle into 55/60/65 iron fly with positive expectancy about $60 on this fly. SOLD -1 VERTICAL SPX 100 JUL 06 1320/1330 CALL @2.50, SPX MARK...

Actually, my capital is more than $3000. I set my goal to stop trading if I am negative $3000. So far, I did not track exact amount but I'm a bit positive. I'll track it seriously when I have a big loss or consistency loosing money.

I'm monitoring my GS short strangle and XOM straddle closely. I managed to buy XOM 55 put today for $0.10. I also put GTC to buy XOM 60 call today for $0.05 but did not get it. I'll probably wait one more day tomorrow any might pay $0.10 for it so I can free up more margin and reduce the...

I don't know what format they used. It does not match with data I got from TOS or yahoo at all. I'll cancel my trial period and might try stricknet.com instead. They charge $97 for data since 2003.

They don't have anything yet. The only thing I found is optionetics platnium. I guess I might pay for one month $100 and finish my back testing right there. I prefer to write code and you can't do that with optionetics.

I think the expectancy peak generated is bad. The last trade was 5 point wide with 90% of winning chance. However, the credit they got was 20 cents. It was a losing trade.

Thanks Mo! I wish not to extrapolate the strike. It would be quite time consuming. I may have no choice.

I'll have to look at tonight data and compare with data I got from thinkorswim. If there is no b/a, it could be less useful. I don't under there file format yet.

Does anyone know how to convert SPX opra symbol to strike, expiration date, and type (put, call) ? I downloaded spx option data from prophet.net for back testing purpose. It came with OPRA symbol such as SXYFT, SZPFS. I can't find reference on CBOE website on how to interprete these...

Sold 1 June 150/155 Strangle on GS for $5.6. The stock was $152. IV is around 29%. I intend to capture the theta over the weekend rather than the IV. -Nick

Bought 2X 1310Jun 1345 Jul 1350 call diag for $0.40 each. Bought IWM Calendar 63P Aug/Jul for $0.30 Chartbender reports it to be cheap. I could use that to convert it to Jun/Jul diag on the put side later. Bought CHS calendar 25P Jun/Jul for $0.25 CHS is supposed to report earning...

You aren't. I'm still holding on to it. I even have another 1290 short but that was hedge buy Jul 1265P. On the put side I have -2 1250P, -2 1245P, -1 1290P.

Thanks nslax. Joyg opened today with $48. The vol drop to be around 65%. I bought the strangle back for $5.40 so the profit was $170. I was thinking about converting this into almost risk free condor by buying the wing 45P, 50C for about $2. However, I'm not good at predicting the stock...