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    SPX Credit Spread Trader

    Yeah, I think Rallymode is the only one here that positions himself closer to the underlying than I do.:)
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    SPX Credit Spread Trader

    Really it has less to do with the credit you take in, and more to do with your personal strategy.
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    SPX Credit Spread Trader

    I like to see >1.00 for a 10-point spread, but I am one of the more aggressive traders here.
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    SPX Credit Spread Trader

    I like the more curvy Selma Hyek type too, but you have to admit that JA is crazy hot!!!:D
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    SPX Credit Spread Trader

    It's not as much about account minimums as it is about trade volume.
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    Vertical Spreads for Aggressive Growth

    Sorry, I meant to say "the more aggressive 47.50 strike":)
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    SPX Credit Spread Trader

    Depends on what your commissions are. {edit} It will also depend on your strike selection. {edit again} Sorry didn't notice that you'd specified 5-10 point spreads. In that case, yes it would be fine.:)
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    Vertical Spreads for Aggressive Growth

    Today's Action Cont.. BTO 2 BAC MAY 50 p @ 3.20 Year to Date P/L Account Value: $12,456.50 YTD Gross P/L: 2,725.00 YTD Commiss: 268.50 YTD Net P/L: 2,456.50 YTD % P/L: 24.6% I couldn't resist getting into BAC at the heavy resistance we are...
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    Vertical Spreads for Aggressive Growth

    I've got my eye on BAC again for some long puts.
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    SPX Credit Spread Trader

    Good advice coach.:D
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    Vertical Spreads for Aggressive Growth

    Today's Action STC 4 DELL APR 27.5 p @ 0.35 7 SPX APR 1240/1250 p Expired Worthless (profit of $310) 7 SPX APR 1340/1350 c Expired Worthless (profit of $725) STC 4 INFY MAY 80 p @ 1.85 Year to Date P/L Account Value: $12,459.50 YTD Gross P/L: 2,725.00...
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    Vertical Spreads for Aggressive Growth

    If you remember, I made this comment about DELL at the end of MAR when I bought back the short leg of the spread. This is a pretty good example of a lucky trade. The underlying gapped down this morning and I sold remaining 4 puts. It's nice to get lucky on occassion.:D
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    Do you pay tax on options?

    Basically it is like my wife's profession. She is an independant massage therapist. The IRS has no way of knowing how much she makes, but we still report it. IF we didn't and they came to audit, guess how gets stuck paying back taxes on the income. Besides that, I get really annoyed with...
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    SPX Credit Spread Trader

    Hey Phil, You like to demonstrate the validity of different strategies using real money. Why don't you run credit/debit spreads side by side, say 10 contracts a piece. Let's see which one does better. LOL:D
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    Covered call is more risky than it appears?

    Sorry, I was asking what kind of account you are trading. For the small account novice to sell OTM premium, one contract is going to tie up a few thousand dollars. The return is then going to suck and he would probably be better off investing in a mutual fund. I was wondering if you trade...
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    Riskarb's combo to fly conversion journal

    Was thinking about trading RMBS, but talked myself out of it. CRAP!!!!
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    SPX Credit Spread Trader

    Taking a hit month after month on hopes of a homerun before you run out of capital..... I'm failing to see how this is less stressful.
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    Covered call is more risky than it appears?

    I should also mention that I'm not against selling premium as a way to generate income, but for the novice I would never recommend selling naked premium.
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    Covered call is more risky than it appears?

    I'm glad your system has worked for you so far. I just have two questions. 1) What % return on margin do you look for when you open a position? 2) Reg-T or risk-based? From what I can see, these two issues make it unsuitable for the novice.
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    Covered call is more risky than it appears?

    It isn't about static analysis. When you sell OTM and the underlying moves against you, then you must buy back the position at a loss. You then sell a larger quantity further OTM with the same expiry. The premium recieved from this new position was determined not by the previous static...
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