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There is $250 that is a given because you have to put on a trade in order to make any profit at all. The other $250 only occurs if you have to get out of the credit spread before expiration. So I think that's why we're only looking at this "discretionary" $250. Round trip would be $500 for...

What strikes are you considering for bull puts?

sk: It's a matter of perspective for me. I blew up my account last summer, so now I'm much more careful and since I already had a very good profit, why risk it. I'll gladly give up 75 to 100 on 10 lots to not have to worry about losing thousands. Also, in the last year I believe there...

Right, Coach. I probably shouldn't use the word breakeven for what I was trying to convey. Yeah, I made good money on those trades. I'll post results tomorrow, but so far, it'll be upwards of 6% on margin for the month of March. You're absolutely right on the SET. We both know of...

Let's see: I had a 1320/1335 and I bought back the 1320 for $0.20 and sold the 1335 for $0.05 (legged trades). I also had a remaining 1330/1345 and bought back the 1330 short for $0.05 just to eliminate any chance that the SET could affect me. So I was referring to the 1335 and 1330...

I decided to take no chances on the SET; so I bought back the 1330 short strike for $0.05. Since I was also able to sell my remaining long 1335 for $0.05, I broke even except for the commissions. Peace of mind is a wonderful thing, esp. when it can be purchased so cheaply.

Bought back the March 1320 call for $0.20. I'm quite satisfied with this and am still looking at a good month. Still have a 1330 short strike for March but that looks to be safe.

Yeah. I am in a similar situation. I have a Mar 1320/1335 bear call. At this point if I close it I will just be buying back the 1320. Right now the bid/ask is $0.45/0.50 for the 1320. I've had an order in since the open to get out at $0.10, but I'll be upping that soon. In the past, I...

Coach: I've got a March 1320/1335 bear call. Given that this is quadruple witching expiration, what do you think? I'm thinking I should probably try to get out tomorrow.

Well, the question is now moot. I just got filled on the folloing Apr 1355/1370 at $0.70

Coach: I'm trying to get a 1355/1370 filled at $0.65. What was the "aggressive" credit you were asking for yesterday?

ToS is currently down. They're trying to restart the system and hope to be up by the opening bell. In the meantime, if you logon under "Paper Money" you can at least get quotes. Also, they will be heavily manning the phones to take verbal trades.

My experience is the same. Those RBs at the RUT made me pay twice what I expected to pay to get out of a position that was starting to go against me.

Got it. What I initially missed is that I could potentially convert what was supposed to initially be two 15 point spreads into two 10 point spread bear calls; hence the overall lower credit. Actually, this is an interesting idea because if the market goes down next week, I might be able...

Net credit on the 30 point spread is $1.50. I inadvertently "cancelled out" the 1360 call by getting the 1345/1360 call spread filled today when I already had an existing 1360/1375 call spread. Not sure I see what you're suggesting.

Got filled on the following today: APR SPX 1345/1360 bear call at $0.75 Unfortunately, I wasn't careful and negated the 1360 short call I already had from an earlier 1360/1375 spread. So instead of 1345/1360 and 1360/1375 bear call spreads I now have a 1345/1375 credit spread. Uggh...

Cash: I know exactly what you mean. It's happened to me before and after it's over you realize it was worth paying to get out. Not only the sanity but the emotional distress. That's why I recently I've opted to get out or roll. But I'm noticing that this month I'm hanging on longer than I...

Actually, I think it was Coach. Seems like it happened right after I complained about his gift. Looks like he found the receipt after all. :)

Sorry, Got my Cash(che)s confused again. No wonder I can't seem to hang on to money.

Cache: Do you still have your 1310 short?