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Thanks Atticus Between you two experts, Don and Atticus, I should be a millionaire by the end of the year? :cool: I see Ryan says he is back making money again. WOW! I just can´t wrap my head around that system.

Don Actually I didn´t know that, nor yet, understand it. The buying of the OTM Call is an experiment. I was running the OTM call last night in the calculator - I´m not too swift with the calculator either - At any rate I noticed that the OTM CALL buying would not change the price...

My straddle is ahead .27 cents. I would like at least .31 cents, so will wait and see.

Market is on the bottom line of my channel. So decided to buy a Call and also sell a put. For calculation purposes, vs delta neutral, will set the buy Call aside, as a seperate trade. So I´m holding a Straddle 1 May QQQ -65- @$4.20 Holding a Sold PUT QQQ 53 @ .33 cents/...

Never said sell contracts you're holding. You sell OTM puts ro calls to adjust delta, that's all. Don ____________________________________ Now that is an interesting suggestion. Going to have to cogitate a few hours on that. Can I sell,with my tiny account? At the...

Thanks for advising. 8 p.m. here. Think I´m going to close down and read my book until I fall asleep.

I´m trading the QQQ. I´m holding a trial long straddle this week. Cash. 1 May QQQ -65- straddle @ $4.20/ I had planned to adjust the delta by buying an OTM. Then if the market reversed I would have extra to sell. ( I read that someplace ) Anyway by adding long options on the...

Atticus I thought I had a handle on it, by buying when you get a move, say one strike to adjust the delta. If the move reversed, I would then have more options to sell on the return move. But then Don burst my bubble, by telling me I have to sell, to adjust the delta, ( he didn´t say...

Thanks Atticus I realized I´m confused. Reading up on it doesn´t seem to help either. I don´t get what you are talking about though. If I have a straddle and I sell a wing. ( going to have to look that up on google ) How do I sell a wing, if I do not have an offset long? I even...

Okay Don! Sat on the thinking throne in the bathroom since market is closed. Picked up on the selling bit with my thinking cap on. Couldn´t do it, because I only had one contract on each side for my trial effort. But in my thinking throne room, I figured it out. You sell to adjust as...

Stop buying, whoops! SELL? Now I am confused. I did put the order in but it never got filled, which is okay. Why would I sell? This is a long straddle. I bought both Call and PUT, May options. It is showing about 21 cents profit right now. But to get the deltas balanced, I thought I...

Whoops! I wrote PUT in there in error. I really meant Calls. An OTM 70 May Call with .10 Delta. I´m only dealing in one contract right now. So if my Call in the straddle is Delta .45 and the Put is -.55 Then the OTM 70 May Call with a delta of .10, at .18 cents would be the thing? IF...

Don I´m just sitting here wondering about that. As I understand it, I have to adjust, or balance the deltas The puts are showing delta -.55 The calls in the straddle are showing .45 So my figuring is, if I decide to do it, mindful of the commission costs. I would buy the 70 PUT...

Jeff So far the day´s action has stayed within my trendline channels. Don´see it dropping yet? It just went from above, to below. ( three trendlines, a la pitchfork.) It would have to break the lower trendline to mean anything. I´ve been watching my Greeks. Trying to learn...

Thanks Don for the feedback. "In any event, just keep it simple, it really is." I´m trying to find the nuances out, once I learn the mechanical application. Closed my two CALL trades for a small loss each. Jeff scared me with a moving average signal in Russel 2000 and IYT...

One aside for Don here. The most useful thing, you told me was one day last week in exasperation, to THROW AWAY THE CHARTS. Like a bucket of cold water over my head. I was in shock. As a teacher you might find that little tidbit useful. That forced me to think what I would do...

Thankyou for responding Don, on this Monday morning. My mind was cogitating and working overtime, during the weekend. I do believe I´m actually learning the Greeks? Some of them anyway. This week I should see while learning this Greek bicycle, if I can stay on it. I placed a Long...

Well I´m running some paper trading, PAIRS TRADING THIS WEEK AND TWO CALENDAR SPREADS AND MONDAY WILL PROBABLY DO A PAPER TRADE ON A STRADDLE. ( all paper trading experiments ) I´m interested in seeing what GAMMA numbers do? Though I have read that Gamma scalping is actually adjusting the...

Figuring delta neutral. So - 3x 47 = 141 delta sold March 65 2 x 50 = 100 delta bought May 65 I see now, how you calculate this. But to make it neutral, would I buy some OTM long calls for May? (Interesting all the little bitty things you need to know.) Or let...

This didn´t look right. I have recalculated it, so that there are sold 73 calls and bought 20 calls ( on paper ) So the dollar value is as close to neutral as possible.