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I'm thinking about grabbing some premium left on the bull puts The 1205/1220 might fetch between $0.40 and $0.50. Not much but with less than 10 days till expiration Thoughts, comments!

Actually, I tried to get out yesterday, but then once I saw you got out, I decided not to. Don't you remember that we decided a while back that you were a contrarian indicator. I guess you decided you didn't like that role. LOL :) Thanks for the advice.

Coach, I'm thinking about rolling out my Dec SPX 1285/1300 to January. Looking at the 1310/1325 for about a break-even scenario, which is all I want at this point. Any sage advice, wisdom or hard lessons learned you'd like to share. Also, if I decide to do this, what about the timing...

To anyone still hanging on to a bear call spread with a short strike of 1285, what do you think? Hang on, adjust, spread, wait, etc.?

Andy, Although I've never sold naked options on the SPX, I believe the margin required to do this would be very, very high.

Coach: SPX is approaching 1250. Are you considering closing out your 1285 bear call. Currently I would only have to pay a bit more than I received, so I'm thinking about it. What's your take?

Coach: Is this a realistic possibility? In all the adjustments I've seen posted on this thread, I don't think I've ever seen a 20 point rollup (at least not without a substantial loss). This might be possible if the market really tanks, but in that case, the 1285 would probably be safe...

Coach, hope you had a nice Thanksgiving. I have a couple of questions: 1) How long have you been trading credit spreads in general and specifically the SPX. 2) With regards to the percent return that you've mentioned a few times on the thread (I believe currently around 27%): This...

Andy: Can you provide an example trade of this alternate risk management strategy? Thanks.

IV: Just a couple of things: 1) It's actually 10 years of data and the split is 5/5 not 6/3. The last two years though have been positive and it looks like this one will be too. Your point about there being insufficient data for what I originally stated as the goal: to see if the oft...

This month has been a bit unnerving for a number of us. I woke up this morning at 5:30 with the thought that I should look to see if historical data validates the claim that November and December are generally rally months. We've been warned by both Coach and other experienced investors. So...

Extractor: Couldn't agree with you more. I think Doc has a lot to contribute if he wants to, but he chooses to stay more on the negative side. For example, gloating over those of us who had November bear calls around 1240. I'm not saying he is wrong when he points out that we've had...

I haven't read very much of it, I must confess. But you should know and Phil is very upfront about this that it really does not cover adjustments to credit spreads in any depth (Phil: correct me if I'm wrong). That's one of the reasons I'm a member of this thread. Assuming I'm right, you'll...

Coach: Maybe you can provide your perspective and experience on the following suggestion. Say I decide that the 1285/1300 bear call for Dec is now a bad trade. Say I have enough margin to roll this to future months until I can break even and get out or make money. So I'm going to nurse...

Hi Donna: You're thinking about selling a 1300/1310 credit spread? That would give you effectively a credit spread of 1285/1310. So I'm not sure I see how this helps. Can you provide some more details. EDIT: How about rolling out towards January or is this too risky. Thanks.

Anybody out there? I'm thinking about adjusting my 1285/1300, but it's gonna be ugly. It's a relatively light volume day and the conventional wisdom is that it is retail traders driving the market higher.

Called yesterday to have additional options added for January. SPX 1295, 1305, 1320 I was pleased to see that they have all been added this morning. My experience with having option strikes added upon request has been very good. A lack of suitable strikes shouldn't really be an issue any...

Bailed out of the Dec 1275/1280 position this morning that I originally entered when Coach posted his position. No adjustment at this time because the market is still going up. Three things I've learned from November/December: 1) Strong historical stock market patterns need to be taken...

Coach: I'm curious as to why you hedged with the SPY and not with the XSP. I'm looking at putting on a hedge and it looks like the XSP is less expensive than the approximately equivalent SPY (i.e. 127 XSP versus the 127 SPY).