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Jack: Sorry you had to take such a big loss. I've been there myself and being part of a trading group like this can really help you move forward smarter. There were a couple of us, including myself, who had 1240/1250 Nov bear calls on. Coach did warn us that we were fighting the typical...

Please feel free to post your woman's intuition anytime. I wish I could say my account was up 10 grand. Nice work!

I might typically put on 4 to 5 positions a month and I only put on one at a time. So I think, Andy, that this is kind of what you are referring to. I asked Coach a similar question about a month or so ago. Even though I do it my way, I think Coach is right in that I'm not sure one way is...

One of the guys I follow made the point that the NYSE was up 84 points today, +2% and yet new lows beat out new highs 163 to 156. You want to be very careful with long positions here (...his words not mine).

Okay, Ryan here's something interesting that happened to me today. I placed the following trade this morning: DEC SPX 1285/1300 bear call spread at $0.60 The mid was about $0.40 when I placed the trade. When the SPX was up about 8 to 9 points my trade still wasn't filled. I called...

Just so you know, the SET can on occassion (not very often) finish 5 to 10 points or so different from the close on the SPX the Thursday before. To the best of my knowledge the last time this happened was in June of this year where the SET was, I believe, over 10 points higher than the closing...

Murray, glad you decided to join the forum. I'm a calendar spread neophyte. Could you be more specific about how volatility helps a calendar spread. It doesn't sound like you're talking about front month volatility versus back month volatility, but instead just the volatility at any given...

Interesting thought! But my "better half" already thinks I spend too much time in this chat room. I explained that this is a forum of intelligent people looking to educate themselves on credit spreads (oh yeah, and make a fast buck or two.) So, on that note, I think it's time for an...

I was gonna say, Donna. Didn't you post on another forum several months ago that members of that forum should "Take the Weekend Off" and now you're not following your own advice :)

Well, maybe my question is too basic. What I was hoping we would do is just a quick primer on what happens to this position if held to April expiration with the SPX at 150, above 150 and below 150. Then maybe we could follow up with what adjustments could have been made to the position prior...

So, maybe I'll start with what I did back in April and we can analyze it. Started with the following initiated on 2/28/2005: Buy the September 2005 OSX 150 Call at $7.5 Sell the April 2005 OSX 150 Call for $1.70 OSX was at 141 when the trade was initiated. This seemed to me to be...

Gator, thanks for setting this up. I tried one calendar call back in April based on a service's recommendation. I had great fun with it, but didn't learn a thing about what I was really doing. I had no idea on when or how to get out as I kept it after the service recommended dumping it...

Thanks, Gator: I'll make this one last post on the calendar spread topic since I want to respect Coach's desire to keep this thread on topic. I think Murray trades a lot of calendar spreads. Let's see if we can get him to sign up on the new thread (hint, hint) :)

Coach: Do you trade calendar spreads, and if so would you be willing to post say one trade a month. I don't know about others, but I wouldn't mind diversifying a bit out of credit spreads. Your call of course, just some ideas :) Thanks.

I'm interested.

I'm uninformed on buying T-bills or funds that emulate purchasing T-bills outright. How does one actually do this.

At the time they were place the spreads were deep OTM. Volatility is what caused me to stop. It only took two days for CME to rise over 30 points back in early June. I made the mistake of adjusting and tripling the number of contracts in order to maintain the credit. Stupid, stupid move. I...

If I can add one more thing, because Coach is absolutely right. Depending upon how big your loss was you may feel the need to put more margin at risk in order to get that loss back (I feel it every month and it's hard to fight). But don't do it. Stay within your comfort parameters and what...

I've posted here before on a worse situation that I had in July. I made tons of mistakes and the worst of all was not getting out with the loss before the weekend. Worst weekend of my entire life. Also, at that time, I never had plans in place for getting out of my credit spreads. So when I...

I must be in some kind of weird kharma space or twilight zone. I had an order in with OX to close out an 1100/1110 Nov SPX bull put for $0.05. After the close I saw it hadn't filled so I changed it to a GTC order for a debit of $0.05. The OX order came back to inform me that the market...