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Good point. Thanks for the suggestions.

Good points, but what about a recommendation to those of us who position ourselves only 1sigma (or slightly less) OTM? With 15d left on these positions there is usually significant premium left to claim. Also this dramatically changes the r/r. What do you think?

Of course you'd be giving up the time period when theta works the fastest. But if your spread is only worth 0.05-0.10 then it could be worth capturing the extra June time value.

I think it was to you in that since you are fully committed for MAY, if a JUNE oppportunity arises, rather than waiting for a couple weeks for the MAY positions to play out, you could just roll them into JUNE and capture the current unrealized profits. Not a bad strategy depending on what...

Was this response to me or OC?

Currently trying to leg out of my DNA bull call after the unexpected sympathetic move yesterday.

I'm considering more bear calls if SPX reaches 1320 or bull puts if we get down around 1295. I've got another couple weeks to get the timing right, so I'm in no hurry.

Still too close to the middle opf the channel for me. I'm willing to sit it out a bit longer, and wait for a better entry.

I don't know that I see OIH IV dropping too much in the near future. Converting to an IB doesn't seem all that lucrative.

Yeah, I've been keeping an eye on it. Also, I'm kicking myself for not having taken AAPL seriously on the beautiful setup last week.:(

I should note that the corp that I work for has very stringent hiring policies and wouldn't even think about hiring an illegal. Those who work here have family that are illegal, but they themselves are either papered or are getting there.

Interesting... All the latinos that I work with are complaining about the rallies today. None of the "gringos" have really noticed a difference, but the hispanics here are really disturbed about the rallies, and disappointed in their countrymen.

Ah the beautiful world of trading where everyone tries to second guess and read between the lines, only to get brought back into the harsh real world a day later, where inflation/wages are rising and housing is not slowing.:) It seems that the majority were counting on the idea that the end...

At times, on individual equities, that might be true. Rarely on an index like SPX though. The wide b/a spreads prevent me from trying to get too cute with it. :) My "style" is actually to find whatever strategy will work best, given a setup that I like. Sometimes I can capitalize on a...

That's a pretty big gap. Are you looking for it to fade, or find support at 30?

WOW!!! I might have to take a little vacation or something. Talk about a bad week. My trading wasn't that great and I just went through 2 Taylormade drivers in a matter of three rounds of golf.:mad: If this keeps up, I think I will check out for a bit to get a little relaxation.:)

Just one thing to say... Pricegrabber.com:) Built myself a whole new screaming fast beautiful system with 19" flat panels and the whole bit for less than 1/2 of what the local comp shops were quoting. Cost on the monitors was $200 each after shipping and a $70 rebate.:D

I'm not really inclined to disagree with you. In fact, I agree with everything that you said. In the long run, it is a non-issue, IF your strategy includes holding all positions through expiration. My comment should be taken in light of a position exit preference. Thursday afternoon before...

I have to admit that I do my fair share of FOTM credit spreads, but being closer to the underlying has some big advantages also. In regards to the supposed Martingale adjustments.... This is my take on it. Right now it is very difficult to add to a bear call spread when you roll up...

I'm glad that you are getting more comfortable with them.:)