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I guess it was one of those rare times. I am looking forward to the earnings/guidance coming up over the next couple of weeks. I own a few S&P 945 puts and am hoping for some bad news.

If you want to own it at 11 why not sell a July 11 call and pocket the .43/share premium?

I drive a beat up 2003 Chevy silverado. I am not into cars at all and seeing as my driveway is dirt/gravel & I always take my dogs Larry & Moe everywhere I go a pickup is the best option......OH you said "better traders"-never mind!

I'm looking forward to the earnings reports & guidance. Yes, unemployment numbers will be dismissed as being "bad but not as bad" or "Bad but could get better next month". Earnings can not be dismissed as easily.

Huge employment reports coming up & what might be some dismal earnings reports. I think I will pass on buying this dip.:)

Just curious about others opinions, I am a bear right now myself. I do not see improvement until next year if then. I have heard nothing positive OTHER than "Things are getting worse slower". I see little reason for a 30 - 40% run up in prices. I could rant on but am curious about other peoples...

Gee, why didn't we think of that:D I suggest you hit the books, you do not know enough about options to even be thinking about trading them. What were your paper trading results from this stratedgy? Try it out with fake money first here; http://www.cboe.com/tradtool/papermoney.aspx...

I am living on the cheap- house paid for, no debt at all. My fixed costs to maintain the house (Taxes,insurance & utility bill) is only 2000 dollars a year. I am single with no dependents (other than six dogs & two cats). My expenses are very low. Right now I am not employed so I can give...

The way it started was a vertical bear put spread 945 bought & sold an 880 put to offset it. I did that when it was bouncing off of the 950 level. I bought the 920 and sold the 800 about a week later. I do not have any calls in this trade. (sorry if I wasn't clear- I'm a newby) I own a...

(These are all September puts- one of each) +945 put +920 put - 880 put - 800 put I was hoping to buy back the 880 put today but never did thinking the market might go up a bit this week after a 3% drop. I was thinking about buying back the 880 and selling another 800 to offset...

No, you would look pretty dumb asking- "I placed an order for 4000 options and it cost me 20,000 dollars, I thought they would only cost 2000". They say the only dumb question is the one that isn't asked. I agree with the other respondents- study, study, study. Options are a great...

You could buy 40 at .50 cents each. If the stock climbed above the strike price the value of your option will also rise but not always dollar for dollar with the stock. There is something called the "delta" which indicates at what rate the option will rise with the stock. A delta of .5 means...

Thanks for the response Putz Master. As a newbie I have a LOT to learn and am going to stay small for a while. One contract maximum and only four or five positions. I'm sure you remember your first trades, they are great learning experiences.

Putz Master, Are you concerned about a broad market decline in the next few months? I would be nervous selling put spreads in this market personally. I am just a newbie so what do I know? :confused: Just curious about your outlook on the general market?

I did my first (real money) option trade in June. I sold a June 975 call & bought a June 985 for a 1000 dollar credit (SPX). I realize the risk (10,000) is not worth the reward but I placed it in the first week of June so there was little time premium left when I sold it. I felt it was a...

Uh, I thought this sub-forum was about trading securities, not slave trading. :(

Oh, ok you are talking about the elliott wave theory- never mind my previous comment.

Please explain what 5th wave means? Are you being cryptic in order to cover all the bases? See- it went up. See-it went down.

Madoff's "investors" were also sure. I have to ask you this. If they can offer you 13% per month why do they need your capital? If they have been in business for so long they would be earning that 13% on their own capital. It really sounds "too good to be true". I wouldn't give them...

Maybe so.....but I like the odds.