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I agree for the most part, but I think one of the main reasons that people lean toward selling on the call side is that the underlying is more likely to crash than to rally hard. Upward moves are generally slower and allow for more opportunities to adjust. So although the premiums might be...

Given what I know now, I wish someone had shown me how to trade options when I was still in your position. I prefer options because of the versatility. With this versatility comes a pretty steep learning curve though. I also like the fact that an options trader can be successfull with a...

I should have been more clear. I wasn't suggesting that you hold the JUL puts for a long time. I was saying to hold them the same amount of time that you would be holding the MAY puts. I would simply be looking for the downward move accompanied by an IV increase. That is where I would take...

I don't want to get sucked into the debate going on here, but I do want to warn newbie traders that the answer to this debate lies in the pricing of the options that are sold for a premium. IOW, you are getting a premium that is based on the probability of that strike being ITM at expiry...

Or if I wanted to play with fire, I might determine how many JUL contracts I would be interested in, and buy the same number of MAY contracts. This way I would get a better IV increase into that earnings report. May take on it... IV increase to 25% into ER with the underlying price dropping...

I actually haven't been following XOM for three reasons. 1) I am trying to steer clear of earnings reports, 2) I'm avoiding oil companies right now, 3) I'm avoiding earnings reports from oil companies.:D Seriously though, just looking at the charts really quick I think some long JUL 65 puts...

Today's Action STO 4 MRVL MAY 67.50/70 calls @ 0.40 Year to Date P/L Account Value: $11,076.50 YTD Gross P/L: 1,330.00 YTD Commiss: 253.50 YTD Net P/L: 1,076.50 YTD % P/L: 10.8% Opened the call side of the MRVL IC on this run. I think it...

I get a bit self critical when I make mistakes while chasing pennies. Thanks for the compliments though.:D

I didn't expect to hold them till expiration when I first opened the position, butthe drop was so dramatic that I got my hopes up when we were 30+points OTM with a few days left. Those hopes were quickly shattered yesterday. In retrospect I should've closed it for 0.05-0.10 when I had the chance.

First week in April when we topped around 1310 again. My analysis said we were in for a pretty good drop so I didn't go too far OTM. But I didn't expect a 25point rally yesterday or I'd have bought them back for 0.10

I actually had some SPX 1320/1330 opened for a $2.70 credit. I thought they were going to be safe until yesterday. I took the opportunity to get out of them this morning. Bought them back for 0.50, so overall it was a pretty good trade. But I'm bummed that I had to give up that extra 0.50

I was looking back through past posts for something and noticed that I had recorded one of the trades wrong. The DNA bull call spread is a MAY spread, not an APR spread. Sorry about that.:(

I'm interested:)

Yeah, it's interesting that we had such a strog rally while oil prices hit a record high. Interest rate hikes or not, when hurricane season comes around again, drivers are going to start to feel the pinch.

Yeah, me too. I step away for a couple hours and look what happens. At least we get an idea for what we can expect after the next fed meeting. I'm starting to think I should've waited a couple days to open the calls earlier.

You could probably get it now though. 1345/1355 mid at 1.05:)

Actually yes, I forgot to mention that. I had an order in for $1.20 for a few minutes that went unfilled. I left my computer for a minute and SPX jumped up to +13.50 for the day. The spread mid was at 1.35 so I thought I would take a stab at legging in for 1.30. It worked this time.:D...

Today's Action STO 3 SPX MAY 1340/1350 calls @ 1.30 Year to Date P/L Account Value: $11,088.50 YTD Gross P/L: 1,330.00 YTD Commiss: 241.50 YTD Net P/L: 1,088.50 YTD % P/L: 10.9% Decided to grab the opportunity to open a call position on this...

Skanan brings up a good point. Often times when a vertical is chosen, the strategy is to roll once the underlying breaches a certain point. In many cases there isn't another analysis accompanying the roll. In these cases a person could be rolling into a position that is more likely to fail...

Today's Action BTO 4 INFY MAY 80 p @ 1.30 Year to Date P/L Account Value: $11,097.50 YTD Gross P/L: 1,330.00 YTD Commiss: 232.50 YTD Net P/L: 1,097.50 YTD % P/L: 11.0% I don't plan on staying in this position for very long. My opinion is...