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Mo: Of course I think you're good for a lot more than just research. :) You're just really good at navigating, searching, threading, etc. this site. I posted a question to Mav regarding program trading. I'd be curious to know what your opinion is on program trading and how it affects the...

Mav: A while back I posted a graph showing how program trading has increased to account for 60% of the volume traded. I'd be curious to hear your opinion on program trading and how it affects the probabilities you've been discussing. Since program trading seems to be controlled by a...

Coach: One thing I like about your trading style is that when you put on a position you live with it and don't seem to voice (at least in this forum) regrets over having missed a short-term high or low where you would have gotten more premium. For me it's a good example of not dwelling on...

Coach: In light of this analysis and assuming you have available margin, why not place addtional May bear calls with a short at 1360 or above.

Rally: The SPX is less than 20 points from your short strike. I know your strategy is to be less OTM than most of the traders on this board. Refresh my memory as to what your risk management is on this position.

Agreed, it was uncalled for.

Good. I'm glad it was Thursday. That's what I thought, because it wouldn't make as much sense to do the Friday close.

I don't think I said that you should always close, I just think that trying to save a nickel or a dime shouldn't override getting out of the way of an on coming train. I think what happens sometimes is that since the credit for FOTM spreads is relatively low, there is a tendency to want to hold...

OK, Donna: Here's the quo for my silence. You mentioned earlier that your legs are still, was the term 'hot'. So how about a picture? But I need to have some assurance that it's really you. So, maybe have a piece of paper in the picture that says "SPX Credit Spread Trader".

B5476: I started looking at this last November. I got too busy to keep up the spreadsheet that I've posted. It's a start. I don't remember if the "Close" listed is the Thursday or Friday close. Should be easy to determine, but I've had a few glasses of wine and just don't feel like doing...

Actually, after risk's post, I should probably qualify what 'never' means. Never means that I won't reveal anything without some quid pro quo. Let me reflect a little on what quo goes for these days :p

You know I'm only kidding and will never reveal any of that post.

I think Mav hit on the head when he said something to the effect that there is no preordained reason to hold a credit spread till expiration. I'm pretty sure Coach feels the same way since he advocates risk management above every thing else at least with regards to credit spreads. It's all...

Hey Donna: I caught that post that you deleted. And I must say making that kind of money DOES make you more interesting. :D I've been looking for a sugar momma. Do you think Mikey would mind? :p

Donna: While I was drafting my previous post on Mav's post, I was thinking of a strategy that you often use. Namely, don't you often buy the long leg and then wait to put on the short leg. When you do that, don't you have a directional bias, at least for that moment. Then at some point...

Mav: You make some good points and, speaking for myself, your comments are welcome on this thread. I happen to be a believer that one should always examine why they are doing something so that the full implications of what they are doing stay fresh. To examine something, IMO, you have to...

Cache: If you don't mind my saying so, it was an excellent trade either way. I know if I had made that trade I would have been glad to have gotten the huge net credit that you did.

I hear you on the one upping. I guess I was on the lowest part of the totem pole today :( Well, I've had my fun a few times one upping others so what goes around comes around. I'm not sure that the events you and Cache are talking about will affect the market in time to save us on the...

Coach: It seems like you have become very conservative over the last couple of months. Is my take on this correct? If so, is there a specific reason? Thanks.

Yeah, risk: Nice trade. Thanks for reminding me that I'm a rookie. I was starting to get a little cocky. :p However, let me add that days like today are exactly the reason why I seldom put all of my contracts on at once. Sure, I missed the upswing today and sure risk and Donna let me...