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Michael Amazingly the Wolfe Wave predicted the market down, on open this Friday. I haven´t received any trade suggestions from Brad yet, have you?

Thats nice to know. Thankyou. Is the market going up or down Wednesday? Now there is the question. To be or not to be. The chicken or the egg! Early Wednesday morning as I look at the screen.

Michael Well this is the start of option month as last Friday was expiration Friday. I´ve cleaned up my TOS account and restarted everything. Cancelled all the open trades and got $100,000 balance in the paper money pot again. Just did my first intra-monthly trade a straight...

Income taxes on Spread Trading Section 1256 60/40 rule 60% of gains can be taxed at long term capital gains of 15% 40% of the gains are taxed as standard income RS Tax form 6701 Got this from Brad's web page.

Michael Are you paying a subscription fee?

I notice on Friday afternoons, the volatility of the market dies down. This shrinks the premiums. Since I lucked out by accident on this reduction in Friday afternoon volatility this week. I´m wondering if one could plan a trade on this phenomena with a credit spread in the weeklies ( next...

Uptickk Thankyou for bothering to answer uptickk. I appreciate it.

Michael Thanks for the heads up. There are two weeklies on the OEX right now. ( Friday ) One that is expiring today and one that will run through next week. I had inadvertantly done my Iron Condor in the next week one. Anyway, I closed the Iron Condor out and surprised myself as I...

Michael. Last night it bothered me I did so good in the IRON CONDOR. Another clerical mistake alas! There are two weeklies in TOS. Recently they put back the WEEKLY to start on a Friday before. Then they changed it again and backed it up to Thursday. Consequently yesterday Thursday...

I wasn´t sure if the RUT had a weekly,so I ended up putting on an Iron Condor in the OEX weekly. 50 - 550/55 Calls at .40 cents for a credit of +$1840 50- 520/515 Puts at .35 cents for a credit of +$1590 See what happens between now and tomorrow afternoon.

Michael I signed up for the 30 day demo. No word yet. Essentially I´ll try to follow the monthly action and put spreads at the top, or bottom of the monthly bar. The money is made with the IRON CONDORS, so Anything under VIX 22 will get an Iron Condor. I´ve got some reading to do...

The secret of monthly credit spread trading and there are several secrets. Seems to be that you cannot think in terms of monthly successes, but must treat it on a calendar year basis. As sometime you have to take 3 months of losses. The second secret seems to be in minimizing the losses in...

Trading Journals I was wanting to put on a RUT weekly trade yesterday. But was not sure they had a weekly type? Still not sure. Will use the OEX today maybe? I´m looking at a sideways market until January 7th, as institutions are now staying out of the market for a month. ( 30 day rule...

Does the RUT have weekly options? Immediate replay requested.

Michael ( thinking out loud ) Playing with the numbers. Out of curiousity, to avoid 'rolling over' I looked at both the RUT and the OEX You can get a 5 % deviation at least right now. Which would be Delta .14 In the OEX for December options. Though I suppose you would want to hold off...

Why can´t you do it for Canadians? I believe you can get a Federal TAx I.D. number off the internet. You need a US postal address, some relative or something.

I´m more inclined to think about the trading as trading the monthly bar. Trying to figure the extreme projected High and Low to identify support and resistance points for putting on the credit spreads for a month. In the OEX the average monthly bar is 50 points long. Or 10 strikes. I one time...

Michael Sounds like you have a plan. Some good trading in Bear Call spreads when the volatility and VIX is high.

Michael Just played with the chart for monthly bars for the past year.. Here is what I got. Worst month in a high VIX bear month. The bar ws 80 points in the OEX, or 20 strikes, in a bear plunge. Not a month to be doing Bull Put spreads but certainly one you could follow down on...

Okay Michael I spent the weekend studying your system for Brad Reinhard. Pretty much got it figured out. It is essentially the same as that of Phil with the forum SPX credit spread trader, though better explained. Essentially the system relies on minimizing losses in those months the...