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Yeah, time is a killer to legging into a credit spread. But I think if you are decent at forcasting price movement then it makes some sense. I just can't see any sense to legging into a debit butterfly. Simply playing long calls/puts is the same strategy with more potential profit and less...

Legging in makes more sense on a credit vertical because it is a credit spread. If you happen to misjudge price movement a bit, you are still in a credit situation and, in Donna's case, still OTM. So the profit zone is still highly probable, you have just reduced your return. Anyway, just...

I don't see the advantage to leggin in on the butterfly. Well, let me rephrase that. I do see that your hypothetical example would be better than just executing the full fly at once. But if you are really that good at forecasting direction, you would be better off just buying calls, selling...

Well, as predicted, it is taking me a little time to get comfortably established, but I'm getting there. I now have some more money that needs to go to some MAR spreads. BTW, I've made all these trades so far in my real account. I figured it would be easier to track that way, and keep me from...

Just a reminder. Some might be wondering about the RIMM IC. Technically speaking it increases the account value because of the credit recieved without tying up more margin. I am not including the credit on these in the account value until it is realized in the end. As it was beautifully put...

Sorry I didn't have time to update in real time today. I tried to sneek in a little note when I sold the RIMM vertical. Actually, when PALM hit $40.00 (recent resistance), I set a trailstop. I was stopped out at $5.70 when it started to correct at the end of the day. I think it still has...

Decided to finish off the RIMM IC. SOLD 1 85/90 bear call @ 0.60

I think one of our fellow ET-ers snagged said plate, and is using it to fund his account.:mad:

If you want it to come back, just put on a sizeable bull put for MAR.:D

What a good feeling. I'm out of all my FEB positions and came out pretty good for the month. A little bummed about that bullish run right when I least expected it, but overall not a bad month. I'm sure some of you out there are glued to your screen so as not to miss your exits. Happy...

BTW, My crystal ball is last year's model. But I scored it on Ebay for $2.50 free shipping. Who can resist that?

What do you mean "after that, euphoria...."? Seems to me that this euphoria is getting a head start. Premature euphoria if you will. :D Interesting..... Low jobless claims, good housing data, etc. are the belle of the ball. In a month those same numbers are going to be the devil because...

I was actually short 1280 a couple weeks back. I rolled into MAR and took it a little further OTM.:mad:

The other wing was a 130/135 bull put @ 1.00 I realize that they are in "blue sky territory" but I think a retracement is very likely. I still have an overall bullish opinion on them though. If all goes as planned I will stay in the original bull put until expiration (or until I can buy it...

Decided to finish off an IC on GS by selling a bear call. Today's Action Sell 1 GS MAR 150/155 call spread @ 1.00 Year to Date P/L Account Value: $10,033.00 YTD Gross P/L: 90.00 YTD Commiss: 57.00 YTD Net P/L: 33.00 YTD % P/L: 0.3%

As a quick topic, I'd like to hear everyone's thoughts regarding IV and how it affects a vertical spread. Also whether high/low IV would encourage/discourage one from selling/buying a vertical spread.

Took the opportunity to get some SPY bear calls. Bernanke set to share with us his monetary policy tomorrow. That could be interesting.:D Today's Action Sell 4 SPY MAR 130/132c @ 0.5 Year to Date P/L Account Value: $10,036.00 YTD Gross P/L: 90.00 YTD Commiss...

Point taken.:D

WOW! Talk about bad timing on the PALM calls. I haven't quite hit my stop yet, but it is getting there. Nothing like getting in at what seems like a support and five minutes later having the issue break through and run against you.:mad:

Long calls/puts are definitely the best choice on this issue. It has pulled back to the 20SMA today. Probably a pretty good time to get in for a quick profit, and I could use another bullish position. I'm going to go ahead and get in on it. I'm expecting support at 36 to hold. Today's...