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Coach, I got 1140x1150 filled for $1.2 :-) just a minute ago.

09/28/05 I sold 565 call on XEO this morning for $5. Now I have IC 545/560/565/580. The credit I collected so far is $5 - 0.5 + $2.75 - $7.3 + $3.8 = $3.65. This is my maximum profit if don't do anything else and everything expire worthless. This is unlikely though. If I were...

09/27/05 12:30 EST OEX was around 562.7. I decided to take on IC 545/560 565/580. I legged in selling 545/560 put spread and bought 580 call and will wait tomorrow to see if OEX bounce up for me to sell 565 or not. Summary for today trade Bought 555/570 back debit of $7.3 Sell...

09/27/05 13:33 EST OEX was around 560.8 bought 555/570 back for $11-$3.7 = $7.3 I got paid on this spread for $3.8 so now I'm lock in lost for $7.3-$3.8 = $350 for this one. My view of the market changes. The good news on Monday about Rita did not seem to help the market. Today, the...

09/26/05 OEX closed at 562. My paper loss is about $220. It appears that I did nothing after putting on the position last week. I actually did many things to do nothing. I kept telling myself not to do anything when the index dropped to 560 at one point. I was thinking about adding...

I don't trade a lot but I did a bit amount of homework to compare broker. IB and TOS will treat this case as IC and require the largest spread margin. In this case it will be 10 points. OX will require margins on both side (15 points) since they don't interprete as condor. -Nick

09/19/05 I was waiting impatiently and finally decided to pull a trigger when OEX dropped around 569. I started with XEO 555/570 credit put spread for $3.8 credit. My max risk is still around $800. I am biased a bit on bullish side; otherwise, I'd start out with 560/570 to limit my max...

I started trading OEX for September expiration month. Here is what I did: 8/16 Started with 555/565 put spread : BTO 555 $3.4 STO 565 $6 for $2.6 credit reason: market was low and probably bounce back. My max risk was $740 which was in my comfortable zone. I made a mistake by...

My name is Nick. I just started out trading option seriously this year. I want to document my trade for learning purpose and for other experience trader to give comments and/or suggestions. I'll also document my emotion, fear, and greed related to the trades too. I learned a lot about...

So, you said this kind of trade has negative expectancy unless adjustment is done correctly. How about instead of mechanically open the position, we look at trends, the directional of market, and wait for down day or up day ? I guess that would increase the expectancy. What do you think...

Here is my take on this one. Suppose I open Iron butterfly at 1195/1225/1255. b/a on 1225 is 19.5/20.2 b/a on 1255 is 5.6/6.3 b/a on 1195 is 7/8 ba on 1225 is 14.5/16.1 For ATM Iron butterfly 120/123/126, the b/a spread is the following 120/123 0.85/1 123/126 1.2/1.3 Assume...

I agreed with Dr. Zhivodka on the slippage of the adjustment when the option is closer to the money. I had to adjust SPX when it was only 10 points away from my short side. I had account with IB and OX. Even if I had a drill what to do, it's still a nerve braking experience. At IB, I...

For statistics purpose, this web site has statistics data of using BB to trade S&P500 ($INX). It's not so good against $INX. http://quote.barchart.com/performance.asp?sym=$INX The best technical buy/sell signal for $INX is 20/100 days MACD oscillator. I'll just continue to use support...

Coach, Would you put on 1255/1265 or 1260/1270 Sep bear call if you have more margin ? I asked this because we might be in situations like last time where you had margin to put on 1230/1245 when there were couple days left. Thanks, -Nick

Coach, I have been reading the whole journal. When do you plan to publish a book based on this one ? When do you plan to start www.PhilsTip.com ? I have 1130/1145 bear put spread. I saw you open 1250/1260 to have it match your other 10 points put spread. From what I read your...

Sorry, I'm new here. What does "handles" mean ? And how do you determine that "6" ?

Supposed to day spx close at 1228 and tomorrow it opens at 1232, would $spx 1230 call option considered in the money and will have to be settled ? Thanks,