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Agree, but SET for Phils short PUT credit spread at 1255 should be more in line with what futures are reflecting now. I would have assumed he had closed the spread yesterday though. On a separate note, have we sold off enough now to consider bouncing off the 200SMA (SPX 1257.7)?

Some interesting shortcuts on your desktop :p

It was just a red herring so I'm safe for now. I will never reveal my real secret sauce! Mwahaahahaaa....

Subtle way of letting everyone know you are none too pleased! Just picture everyone sitting naked at their computers and everything will become all better :) If I was perceived as being party to any nastiness and/or mud slinging - my apologies for that. Ask away. FYI, if it is a general...

LMAO. Tongue was firmly in cheek :D

Yes, your channel certainly looks compelling.

Everyone seems bullish on AAPL except cnms...what does he know that I don't? Are you expecting a move in the short term? The 70 call is very aggressive...but commensurate with your Journal title! 70 strike have deltas of approx .26 right now. Probably would have gone with the 67.5 (.39...

Hmmm...no complaints about JA over at OC's... Am bullish to 400 on GOOG me! Glutton for punishment but nice to see I'm in good company. Assume Riskarb planning a conversion? [EDIT: OK, I see above]

Doh! Was I being vague again? *slaps self on wrist*

If one were to think in terms of annualized return on margin, getting out sooner for .10 vs. waiting another 20/30 days for .5 is a no brainer. If you have a mid of -.05, could be a candidate for legging out - one triggers other. Being so far OTM, you have very little risk by attempting...

I would recommend puting on a notional position into a "what-if" tool and play with the different parameters - time, underlying and volatility to see how they each affect the position - or running PnL If you have the thinkorswim desktop platform, the vol step and day step plot lines really...

You mean you need to be able to trade to make more money? C'mon now, that's just crazy talk! ;)

Some diversion to give pause for thought. From Fooled by Randomness: "Lucky fools do not bear the slightest suspicion that they may be lucky fools - by definition, they do not know that they belong to such a category. They will act as if they deserved the money. Their string of successes...

Easy tiger! Phil's response will be predictable and diplomatically boring! :D I suggest he copy and paste one of his many earlier dissertations on risk managment and choosing a strategy that fits your personal style rather than spending his time crafting another essay as he is no doubt in the...

Well past ad nauseum...and into vomitus. optioncoach = risk management momma :)

I'm still waiting for that Santa Claus rally to come around...LMAO.

If in doubt do half ;)

2 cents as requested: Hedging Strategies. Suggest you read a few posts before the one linked to to get the context. You get paid a credit for taking on risk. Can't entirely mitigate the risk without also mitigating the credit! Good luck and commisseration's on your first month.

LOL. Still trying to figure out what's going to happen to your SPY bear put spread? Hehehe.... Well I could mention that it's probably best to know what you're trading before you get into a position, but that would be no help now would it! :) Besides, I have one such rant prepared...

Not sure if you're aware but the twsapi group at Yahoo! has discussed many issues such as this in the past. There are also plenty of code samples that may be of use. Good luck. MoMoney.