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I wasn't able to update the journal earlier today as I do have a "real" job. but I took the opportunity to reverse the AAPL trade. I have consistently misread this issue.:( Anyway, I bought back the short leg at the end of the day today. I've got a trailstop in on the long leg so we'll see...

Shelly, Which prop firm are you associated with? If you don't mind me asking. :)

Agreed. I'm in a 1340/1350 and staying on my toes. If we get up to 1330 I plan on adjusting.

This is a good example of when it might be useful to use the XSP/SPY to figure out what a reasonable limit would be. Today the quoted mid price was generally inflated because the spreads were large. If I were trying to get filled on a 1330/1340 I could almost certainly get filled on SPY at...

Don't want to jinx myself, but it definitely didn't feel too bad to be overall -delta today. The IV increase is working against a couple of my spreads but I'm not worried about that yet. On that topic though, I'd like to pose another question; Under normal circumstances, when the...

Rally, I like your style. You and I have a pretty similar strategy with a few exceptions. Anyway, I look forward to more posts.:D Cache

Yeah the turnaround happens a lot, but I think the initial market reaction was right on this one. Prices were high on hopes that there would be an end to the rate hikes. That only leaves one possibility for the market to continue higher. The fed had to say that the end was near. Anything shy...

I was looking at getting into some long NFLX puts if it bounced back off of that resistance at $30 because IV at 40 is super low. But IV is picking up fast and I'm already too -delta to open any long put positions.

Thanks, just wondering.:D

Going to be sitting on my hands tomorrow until I get a good idea about how everyone is reacting to the FOMC. Lately we have seen an initial jump that wasn't really followed up by much buying interest. I think most people are expecting two more rate hikes, but the last CPI report got a lot of...

[/B] BTW, which broker do you use?

[/B] In my experience I'm going to have to agree. Bet against the higher fliers and for the laggards. When a stock is a "high flier" there is a lot of room for downgrades when the report isn't quite good enough. The opposite is true for laggards. You definitely get more bang for your...

Are you just trading single leg long puts/calls?

I used to think that too until I got burnt a couple times. I'm pretty cautious now.:)

How you trading NFLX?

For those who might be following my actual trades; Is there any interest in me posting my trades that don't fall into the vertical spread category (e.g. calendars, diagonals). I was just going to include them occasionally on one of the other journals already dedicated to those types of...

I would like to see this thread keep going too, but vols are exceptionally low right now and this strategy is less than effective under those circumstances. If anyone comes up with anything on their screens, please post them so we at least have something to discuss.:)

Yep, in my description I think I noted that I tend to be a little more aggressive in my strike selection which allows me to compare the SPX/XSP spreads with some value. It is really entirely useless for ultra conservative 80-point OTM front month spreads. Comments appreciated though. :D

Speaking from experience (quite some time ago). I know what it's like to trade strategies that allow you to double your money every week. We all know that it's possible with options. I even had a stretch of like 6 months that I had consistent tremendous gains. I was fairly new to options and...

I had been thinking much along these same lines, but it gets you into a situation where you lose much of the advantage that the call side ratioed diagonal offered. As I ran through all the different scenarios, that put skew was always the killer. Every one of the combinations that I tried...