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thursday, november 12, 2009 *Profitable trade exited today.* Right near the close, the $IWM Dec/Nov 57 Put Calendar Spread we initiated at 1.00 on November 4 hit our target and we were taken out at 1.16. After commissions, this trade resulted in a $10.96 profit which is a 10.7% gain on...

monday, november 9, 2009 *Runaway Market requires an upside adjustment* The market continues to run straight up, seemingly unstoppable. As such, we had to take off one of our open positions at a loss and re-enter a new position. With $IWM trading over $59.00 this afternoon, we closed...

wednesday, november 4, 2009 *Trade Updates for 11/4* The $DIA Dec/Nov call calendar hit its 3rd 10% profit target today and was exited at the open at 1.08. It should be noted that it only took 2 days to hit this target since this trade hit its last target on Monday. This trade was...

tuesday, november 3, 2009 *New Trade entered today* We weren't able to get filled on the $DIA calendar spread that was mentioned in the last post. However, today we got filled on a $IWM Jan/Nov 56 Call spread @ 1.44 for a total cost of $146.52 after commissions. This leaves behind $25.88...

monday, november 2, 2009 *Profit targets hit again.* Wow...that was quick! Since the "new trades" initiated this past Wednesday, the two open positions reached their next 10% profit targets again, in just 3 trading days. Nice!! The Dec/Nov $DIA 98 call calendar spread (originally...

wednesday, october 28, 2009 *The "Phantom Trade"* I made two new "trades" along our journey today. Both trades entered into in the last post each exceeded their profit targets today, with the underlying ($DIA) trading at PRECISELY the short strike - $98.00. This situation created a...

friday, october 9, 2009 *New Trades* After getting our first trade closed, I immediately began looking for new calendar spreads to enter to use as much of our available cash as possible. With $DIA trading around 98.20, here is what I entered today: One $DIA Jan/Nov 98 call calendar @...

friday, october 9, 2009 *First Trade Closed* A $2 Million journey begins with just one step. This morning at the open, we closed out our first trade, and it was profitable - it hit our target. We opened one $DIA Dec/Oct 97 Call Calendar @ 1.97 on September 25th. Today, we closed it...

Friday, september 25, 2009 *The Journey begins with just one step: The First Trade* Today I entered into the first trade of our journey to turn $200 into $2 million. I purchased one Dec/Oct $DIA 97 Call Calendar Spread @ 1.97. Total Cost of Trade: $197 + $2.50 in commissions =...

wednesday, september 23, 2009 *Can I turn $200 into $2 million just trading Calendar Spreads?* This is the question I posed myself. And I answered: "Theoretically, yes". However, theoreticals don't put money in my pocket, and the only way to prove something is to do it. So, I opened a...

I've rediscovered the Elite Trader website and I've spent the day reading hundreds of great and informative posts. In doing so, I noticed many people have created journals to track their progress in achieving goals. Some attainable, some simply outlandish. Posting trades after-the-fact is...

KING...I'd love your suggestions of ways to mitigate this risk? deep out of money puts? if so, how much? Any help would be greatly appreciated.

I'm in Chicago and wondering if anybody here or in cyberspace exclusively trades calendar spreads? If so, I'd love to get a thread running about the pitfalls to be careful to avoid in this strategy. As well as winning habits to get into in managing these positions. A little background of...

Thanks for all the input so far. Thanks for pointing out that the strategy I exampled is in fact called a synthetic Straddle, not a butterfly. I knew that, apparently my fingers did not. One poster suggested that instead of doing the synthetic play, I should simply buy the straddle (buy...

Hello - I am an experienced Trader (over 8 years) who will be delving into the Options markets for the first time soon with a proprietary group. To prepare myself for this indoctrination, I've been reading a ton of books on strategy. However, most books tend to focus on strategies that...