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Doh! Just a beginner here. Always doing things backwards. Your book next :)

Aww shucks. You mean to tell me there's no money-making strategy that doesn't require skill and prediction? Darn it. [Insert international symbol for sarcasm here]

Good timing LOL. You should start charging for these DONNA alerts. Hope you don't miss out on completing the spread.

Thanks. All sounds quite reasonable :)

The USP of the book for me is the dissection philosophy and the various dissection tools. There is/was a spreadsheet in the forums that he put together to help with position dissection. If you can get over the Open Office fiasco, well worth taking a look. I know he's lurking around these...

Donna, Spot on. There are two embedded baby 75/80/85 flies. If you do a 1 lot example you'll see how some of the baby fly strikes cancel each other out to result in the 70/80/90 pregnant fly e.g. 70 - 75 - 80 - 85 - 90 1 -2 1 (70/75/80) 1...

Congratulations. Despite GOOG, you're still net positive.

That sucks, bad luck. 63 cents!

Bad luck on GOOG. Hindsight is a killer. Right now your 400 straddle would be looking good. I'm curious as to why you closed those other straddles. I suppose it depends on your philosophy or belief pertaining to the "negative expectancy" of trading options but some would consider converting...

RE: OIH - all theta. Vols are actually up marginally.

Butter Fly. I like it. Actually, I would suggest that the term pregnant fly is more commonly understood to be flies where the distance between the body and the wing is more than one strike as per Cottle. It is called a pregnant fly because it has "baby" flies embedded in the position e.g...

I tried out the new ToS paper trade thingy with the NDX 1700 combo - Donna is right, the virtual ToS NDX market makers are as tight-fisted as the real ones LOL. Nearly $40K margin for 1 lot naked straddle on Reg-T LOL. $120 P/L marked at close. Vols were still fairly bid-up.

I'll take a stab... Short only straddles not strangles. Aim to get decay and IV mark downs on both straddle (body) and wings. Yes, there is risk being naked. Period of time being naked is limited to one's personal risk preferences. I believe Riskarb looks to convert 7 days after initial...

I flattened some of my deltas before close but was still net long so go bitten there. Another day in the life of GOOG. Will be upgraded by end of the week and hit 600 by next Friday no doubt LOL. Good news is that vols should be up.

How quick were you? LOL.

A few questions that some will be pondering: 1) What kind of position sizing approach are you taking? Are they all 1 lot spreads? Do you intend to scale-in/out? 2) How many issues do you intend to have positions in at any one time? 3) Presume these are all March spreads (45 days). How far...

Thanks. Suspect you're right re: GOOG setting the MOOD.

Am long some deltas on GOOG too but I have a feeling it's going to bite me in the ass today. :mad: might even get out by close. RE: OIH, nice little pullback today. Theta catching up with delta. FYI: Will convert/offset latest friday PM. Don't want to hold naked over the weekend. Was looking...

Btw, do you have a mental delta stop for offsetting neutral straddles? Or even a delta loss > theta gain threshold?

You don't think a large move after FOMC likely?