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Agree that it lags and is not a good prediction tool. However it does IMO confirm a general attitude in the market place. A 13 vix which changes only 20-30 cents in the face of a 10p12 pt drop is a complacent market . It suggests....not predicts....upward bias.

The VIX is not confirming any panic selling, using this opportunity to sell a put or two, overall my book is still delta neg...we need a much bigger drop to instill fear into this market. nice trading ammo...

Hi Action...following your journal as I have a position in gold via the futures option short put...thus long. The current options expire on Wed so I think part of the volatility right now is due to covering and rolling. I was suprised at how liquid and active the GC options are. I think after...

Lets see...quad witch..scare the crap out of the shorts by touching 25(Sept)..then reality sets in on Monday hangover?

Well since the thread has been resurrected... OP...has using this system improved your trading ? Or is it still a bit too early to tell?

I've been looking at this SPX chart and if today's modestly bullish action is confirmed we certainly could be in the 20's by Friday, unless there is a big surprise from the Fed tomorrow onward and upward.

This statement bothers me a LOT. I've traded options a long time and what I have learned from even more experienced traders is that we want "tight" spreads and highly liquid instruments. If you earned so little then it was never worth the risk to begin with. You have received some good...

uhmmm pink...unless you trade several different accounts you aren't a winner on this trade...you didn't "cover" your add on...you booked a loss on the original 98 long. keep it honest plz

UGH...not much choice here but to buy.

+1

welcome back Cornix! I have given the entire debate quite a bit of thought. I know that I use resources that even I'm not consciously aware in my trading so I personally could never go mechanical. I think many statistics prove than not a "single" TA strat is more than 50-50 over time....so I...

If you not that far OTM its fine...you can add a bit of juice by selling the OTM call perhaps a month farther out...so Sell the OCT put and NOV call. If X is at 25 and your put is 27...roll it to OCT 25 and sell NOV 27 call. Danger there of course it X goes to 30! If your afraid of that then...

Just in looking at your chart...what I see is pretty much range bound since 1998 (other than the big dip which the market overall made as well in 08). Right now its in the high end of your range so I don't see much upside. That is how I'm reading the chart..fwiw... To make your call work...

I'm here! Trading small trying to improve my positions for next week. About to hang it up and go do something more productive....like wash cloths.....sheesh

can't lose either:D Problem of trading in chop it seems the only winner is your broker...sigh:(

he's trying to make lemonade :) Nix I don't really understand the trade either if you really do think it won't go anywhere why buy any call?

Well I'll take a bit of the other side of the comments :) It really depends on WHY you sold the puts. Did you really like the company and would like to own it at the price you sold the puts? Do you still feel the company is a good bet? If the answer is yes to both questions then why not...

I would hesitate to go 2 strikes down on the OCT..while it would reduce your cost by 50% IF msft hits 35 in OCT it may cost you to close the diagonal. Of course if it did hit 35 you could roll up one strike and have a short vertical spread for NOV. There is basically little risk in selling the...

This caught my eye...is this not a monster (under my bed) H&S? Statistics show that next weeks triple witch Exp is usually up...but with this monster lurking I'm still neg. Will get closed out and flat tomorrow, but just in case I'm buying a couple of next weeks puts to cover going long.

The chart showed the tumble not in Aug but in July...what was the date you initiated the trade and price of msft at that time? MSFT is usually a decent calendar candidate but price has dropped thus the OTM november will drop even more. you can still sell the OCT call against the Nov to reduce...