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can someone please tell me how the DJIA is at it's 2nd highest level EVER!? And how SPX and the others continue to rise? Last time I checked, there weren't a ton of yahoo.com and msft and drkoops.com and petstore.com's around going all nuts on the market and I dont see secretaries and janitors...

expiration day sales are tricky at best. The only places I know of that can give you a some type of profit are weeklies or really large spreads. Either way, you need some decent cash in your margin account to make it worthwhile and you likely wont be able to close out your position at the close...

Hey guys..specifically Sailing, So, I've been watching all of your DD plays, still trying to evaluate this compared to verticals. Tell m if I'm wrong. Using puts as an example, If you use DDs to play the vega, then when the short represents like 66% of the long then you need...

Forgot to check the market before closing yesterday and close out the Sept. 1330/1345 call spread....grrrr

Told ya coach not to worry about your trade...but you're the success story and I'm not, so your conservative play was prolly a good thing.

Sailing, gotta admit, I thought you guys were screwed on the put diagonal...of course, I was also thinking my 1230/1245 call CS was screwed too...I was going to bed last night thinking today we would see 1320 or more as the "big money returned to add even more money and volume to the...

1245? I think coach is pretty safe there, barring any weird catastrophe...even then, I think he'll be okay.

Hey guys, So, I have a couple questions. First, am I correct in assuming that the Sept./Oct. puts can still make profit even though the SPX has moved significantly against you guys since a lot of you spoke up (1296 or so) because you can still roll it to an Oct. credit spread or...

Thanks coach...but I was thinking of Sailing and the others who entered into Sept/Oct Put Diagonals after the SPX jumped to 1290 or so a couple weeks back. I've been terrible recently at determining market direction...I only make money because of way OTM spreads...but I want to learn about...

I have a question for all the Sept/Oct put diagonal guys....when do you guys make adjustments if any or how much further up does it have to go before any adjustments are made and what would those adjustments be? Are you guys still on pace for profit or not?

If people could consistently make money of straight long positions, there wouldnt be all these other more complex trading strategies. I have never "won" on a simple long position. They were negligible losses (approx. 50% loss of less than 2% of my total account/trade) because I was never...

I got burned by the SPX SET 2 weeks ago. Had a SPX bear credit spread for 1285/1300. It closed at 1279 Thursday and the SPX even opened at 1280, flirted with 1286-1288 in the morning for like an hour...but somehow the SET was 1288.95, essentially the high for that day, which is somehow the...

What happened to options and the market during the other non-9/11 events? ie, Spain and London bombings? I wasn't trading then, so I'm unaware of how international terror attacks affect us here in the US...well, affect us in terms of options trading. Just asking cuz today's news reminded...

geez! So, that means, every once in awhile, if you're on the wrong end of a credit spread (the call or put side)....you could totally get screwed...40+pts out...essentially max loss on your spread if you dont close it out. So, does this mean that one should always close out and not let it...

So, yes, I got burned for not knowing my product well enough (this weekends post) But, I'm just gonna chalk it up as a lesson I wont forget now. Anyways, moving on....there appears to be a possibility for a significant gap between opening price on expiration day and SET for SPX...or any...

yeah...I think I'm screwed...however, i looked back at historical prices and SPX opened at 1280.26 on that Friday...from what I've read from everything, the SET is done on the morning of expiration day with the opening price...so, how was the SET 1288.95 if the opening price was 1280.26 (still...

...idiot:mad: :mad: :mad:

CRAP! I looked up the SPX weeklys and they expire on Fridays also! But on optionsxpress's website, they list expiration date for both SPX and XSP on Thursdays...I went back on some successful credit spreads and, until this week, I had never ended ITM on these trades the next day either. Can...

the problem is, I didnt sell XSP (JGA, JGB, JGD, JGE)....I sold SPX weeklys (JXA) which expire on Thursdays. They paid me and cleared my positions on Friday night and then reassigned me on Sat morning. The sold JXA options should not be liable for JGs....They must have accidently assigned...

also...when I was assigned...I wasn't exercised on....instead, they made me BTC the short position for 3.95 even though it was worthless and expired OTM....that means, someone bought a call and was able to sell it to close for a profit even though it expired OTM....that's crap and I should get...