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I'm new to option trading or trading in general but I have studied a lot. I've never attended optionetics class; however, I can say that 2 days is not enough time to learn option trading. I recommend Think or Swim seminar which is free in many area of the countries. You'd save a lot of...

Total SPY summary: Delta 187, gamma, -7, vega, -45, theta 13.42

Sold SPY JAN IC 124/125 129/130 for $0.50 credit. Bought SPY 126 for DEC $1.40 right after the FED announce the rate hike. I paid about 10 cent for time value.

Sold DEC 125/126 spy put spread for $0.35 credit.

Riskarb, When we were in high school, we learned Vipassana mediatation. 80% of Thai school teach that.

I bought one spy 124 JAN/FEB Calendar today for 55 cent. If SPY drops back near 125 next week, I might sell 125/124 vertical put against it to have diag calendar. For Spy Total Delta 19, Gamma -6.7, Vega, 7.05, Theta 3.14

I sold 1 1165/1175 SPX put spread for 45 cent today. This is same as what Phil sold on his journal. I bought 2 more spy put diag 122 jan/123 feb 30 cent 123 jan/124 feb 30 cent The 122/123 feb vertical credit spread was around 17 cent and 123/124 feb vertical credit spread was around...

The spy dropped a bit so I sold 124 put for $1.05. Now I rolled the 123/121 calendar diag to 124/121 vertical put spread. The fair price of this one is 50 cents. Since I made 15 cents from the roll, my expectancy is 15 cents better than fair value.

I had a calendar diag here: 1x SPY -123 DEC + 121 JAN diag put spread for 0.10 debit. Bought back DEC 123 for 0.15 : reason: DEC 123 does not have much time value left. Also, the market went up to almost 1270. Real Profit on DEC 123 $1. paper lost on JAN 121 (now trade for $0.45)...

Thanks for the explanation! I agree with you. I have different question. Suppose this is the situation: 1. Sell 1 contract xyz 50/55 credit spread $1 After 5 days, xyz does not change 2. Now Sell 1 more contract xyz 50/55 $0.90 Since now the fair market value of xyz is $0.90 but...

I decide to take profit on aapl. My reason is that it ran up quite fast and may come back down a bit along with the markets. Then, I can put on 60/65 credit spread later. Close AAPL 50/55 DEC credit put spread for $0.15. Profit $1.35. Now I reduce my lost on previous XEO to about $165...

I try to increase expectancy by trying to forecast underlying price. I use vertical spread mostly because I don't know how to predict volatility. Thanks for the reminding on the market conditions. I'll switch it as soon as it stops working and I won't just trade the spread only. I prefer...

Thanks for the encouragement. Actually, I use simple TA such as moving average. I try not to sell spread against the trend. Also, I don't sell put spread on the day when a stock price is up. I sell only on the day when a stock is down. I really have to restrain myself when I see the stock...

Does she trade option ? Was she a premium buyer or seller ?

Doc, I'm still trading this system. With warning from you and other people, I reduced contract size from 10-15 down to 3 contracts. I am benefit from reading Phil's market analysis. He did mention the market seasonal behavior so I did not do any credit spread on call side for this Month...

Thanks! I agree that selling spreads involves two commish. It also means twice negative expectancy. One from commish + b/a spread of buying and one from commish + b/a spread of selling. If I am not too chicken, I'll probably go with naked call/put to minimize the that effect. My...

Thanks for the suggestion. It did not confuse me. I'll control myself not to do too many underlying.

Thanks for the encouraging.

I'm not so sure I can answer the r/r since it is difficult to measure. If I answer in term of maximum risk it would be much higher than my reward. For example, the $5 spread with $1.3 credit probably has reward/risk ratio only 1.3/5. However, the probability of me loosing the full $5 ($3.7...

Here is my inventory. 1. 1x TSO DEC 50/55 put spread for $1.60 credit. 2. 3x SPX DEC 1125/1135 put spread for $0.5 credit/contract. 3. 1x VLO DEC 85/90 put spread for $1.2 credit 2x VLO DEC 90/95 put spread for $1.35 credit/contract. 4. 1x AAPL DEC 55/60 put spread for...