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Not speaking for Jeff but I have done some short flys on fast moving stocks. However its usually as an adjustment. Perhaps he wasn't getting the credit he wanted on the credit spread. most people would just buy back the shorts for a nickel rather than closing the entire spread. I prefer...

nice patience and trading there gmst.

you might check with them on comission...Atticus was a bit harsh... but "unrealistic" is right. The problem with paper trading is you don't get the feel for what REALLY happens. Good luck in trading WAAAAAY out of the money spreads on the SPX...did you look at the volume of actual trades and...

You do need to know commish cost. To do this trade my cost would have been $500 plus $125 comsh. you mentioned that you would hold till expiration ...the probablility of %100 loss on this trade is very high. If you wanted to close this trade say for a nickle then you still have the $125...

Because I decided to stay home and try to trade...sigh:( Never fails to break out when I think nothing is going to happen and leave. Willing to take $$$ to leave...just send to my paypal acc:p

whew...thought it was cactiman doubling down on HIS bet!

"Prague Winter" by Madeleine Albright "Team of Rivals" by Doris Kerns Goodwin best two books I read last year

thanks mastacoli, I didn't know that page existed! At any rate I learned something ...experience IS the best teacher:)

I think your right....at the end there was a flurry of 60's so the weighted average might very well have been above 60. Actually feel better. It appears that I actually lucked out...assuming we don't open 20 pts higher on Sun:D

atticus...at the time of the sell which was around 1pm I had a chance to sell the call for 4.5 and shortly later the put for 2.5 and felt with just a couple of hrs to go it would be a decent trade. I also didn't mind getting stuck long or short. good pt rwk...the chart I looked at was one...

I should amend that...they don't close the call and put...it SHOULD have automatically been exercised PER CME rules.

The broker had no problem closing the short call...why didn't they close the short put? I made a choice...THEY make a mistake:)

Twinsen I have started doing this primarily to the upside on the SPX tight 5 pt flies or BWB...simply because set has an upside bias anyway so If I'm short a call spread when the market goes down I'll add the long call spread to create the short fly....it has worked pretty well in this market.

If you trade ES options you might have an interest. On Friday saw an opportunity to get 7 pts by selling a 55call and 60 put so if we ended up between the two I'd net out 2 pts on the trade. Plan was great as we ended up at 59.75 (set was 57.70)....however TOS exercised the call so I ended...

ES hitting 1570 in 2013 which is only abt 8% higher than now

Agree with Less...what happened to updating over weekends? cd I was up %37 on the year in my futures trading account mostly trading the ES cash and options. That includes loss from CL options. To be honest it was a pretty calm year with only a couple of big downs to deal with. The big ups...

There are actually a number of posters who I enjoy reading their posts and journals. Over the years however, there has been only one poster has strongly influenced (favorably) my trading.....Atticus. ty

I'm with your wife. I've never had an aapl product however "facetime" is far superior in quality to skype and because ALL our kids have aapl products we are getting a mini. Worth an extra $100...probably not ...neither are most $100 dinners (worth the $$)

Perhaps not a big deal...however I NEVER know if my NTM weekly option will expire in or out of the money. I have also seen some ugly things happen such as a gap down (or up) on Sunday night which may put you where you don't want to be. Unless I have a straddle which I'm willing to hold thru...

I first tried ES weekly options a few years ago and was disappointed...had some bad experiences with them but today they have become my bread and butter trade. I have no trouble closing a FOTM option even when no bid is available as long as I'm willing to sit on it over night. As...