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Hey, 'call me Ishmael' What's attractive? On what basis? You are just gambling, IMHO. Mark

I used to trade Topp's baseball cards and bottle caps (yes, soda bottle caps). Besides 'old' what dos that make me? Mark

You are not seriously considering trading these things, are you? Why? Mark

Yes, it's protected, but 'you can lose all the equity tied up in the trade.' That's not the same as losisng all your equity. But, that has nothing to do with being assigned. If you sell a spread for $40, you can lose $210, or $460 etc, depending on how far apart the strikes are. By the...

Just in case you want another opinion, the synthetic of a covered call is a naked put with the same strike and expiration date as the call. The position is stock vs. call. Period. Current stock price; price you paid; option premium - are all immaterial. Mark

Dumber. [much, much] Mark

Good point. Mark

Of course, selling the stock and buying calls is buying puts. I know you know that. Mark

Greeks are for RISK MANAGEMENT. That's the point most people miss. Greeks help manage risk. they do not make buy/sell/hold decisions. It has nothing to do with 'playing the long or short side.' Mark http://blog.mdwoptions.com

1) It is very foolish to ask that type of question here. Why would you trust the answer from someone you don't know - who might be trying to play a joke on you 2) Tell your friend to make his own decision. 3) I would sell the shares right now, but what does that tell you? Mark

DISPUTE: "Better' is not the appropriate word. Mark

Of course it's possible. That's not the issue. If you care about managing risk; if you want to decrease your chances of going broke, then the Greeks will help you. You are allowed to fly blind. And that appears to be what you prefer to do - and are looking for people to give you...

This is truly a straegy where one size does not fit all. A case can be made for and against selling every individual option that trades. Your task is to find an options that fives you a position that makes you comfortable, leaves you with enough profit potential to make the trade worthwhile...

I often have positons on top of other positions and manage entire portfolio, not just individual speads. Thus, it may be difficult to enter a many-legged position, but it's easy to own them. Would like to manage whole portfolio and not just a single trade. Mark

OK. Thanks Will take a look when markets are open. Best regards, Mark

OK. You have the extra time. Hope it works for you. Mark

OK. Perhaps I was too harsh. I apologize. But the guy who runs that site posts here at ET I think his ID is pengw. Why not ask him to help promote <b>his</b> site by telling all of us how to use it? DMO shares plenty. I don't think it's realistic for him to spend his time and effort...

Mike, I look at the situation differently. You believe you have a no-risk situation. I believe you had a profit, refused to take it and instead, adjusted the position. You may end up with a larger profit, or the profit you reinvested may be permanently lost. But - again from my...

Hello pengw, Since Options Lab is YOUR site, why not tell us more about it? Which variables does it allow us to change? Date? Stock price? Implied volatility? Skew? What does it do especially well? Must one register to use it? Just a brief idea would help. Mark

Don't forget that news - lots of earnings - are released during those 15 minutes and it's very reasonable for option quotes to change. Mark