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Thank you kinggyppo, also that's interesting stuff on DeMark.

Thank you IV_Trader.

Thanks dipper, I bought 10. I always buy (approximately) $2,250 worth of options contracts per trade.

Trade completed, updated 2008 results year to date attached.

Sorry, in a hurry typing and forgot to mention the options were SPY puts.

Just bought May 138 puts at 2.24 Bracket set for Limit Sell: 2.80 Stop: 1.70

Thank you. Also that's a really catchy phrase, I like it.

Dipper and Xflat, Thank you for the kind words.

Update for 2008 year to date attached to reflect today's trade.

Just bought SPY 138 calls at 2.10. Bracket set at 2.65 sell limit. 1.60 stop limit. 04-16 MAY138C 1.50 1.75 2.60 1.68 2.60 2008 MAY136P 4.85 3.85 3.85 2.58 2.58 3D: C=5-0-42=L4UP P=7-18-2=L2DN 9D: C=30-16-47=L4UP P=39-50-27=L2DN MM...

Reply: Thanks for the positive comment. Note: Out of laziness, I wrote replies directly below your individual comments.

Your asking a person who hasn't traded OEX options since last summer to remember examples? I am an older person and can hardly remember my address each day. But here's what I remember when I was trading the OEX daily for several years (based on roughly 800-1000 actual OEX option trades): [1]...

An example of what? 1: OEX option Manipulation? or 2: System progam output sample?

This thread hasn't been a discussion about OEX options. Its been about a programmed mathematical mechanical trade system that is currently trading SPY options in 2008 (as well as the latter part of 2007). Since I believe OEX options are unfairly priced and manipulated, why would I display...

[A] In a real sense the market has walked in and hammered the OEX options back into the stone age. How? By choosing not to trade them, with a few exceptions. Look at the volume on OEX options and then go look at the volume on SPY options. I would have to say that the majority of traders...

Atticus, Your right, don't buy puts should have outputted =buy calls from the system programs, but it didn't because it didn't see any call trend with SPY option data inputted. When I inputted OEX option data, there was a call signal to trade OEX call options. However, I haven't traded...

I know that VIX lags, but charts give potential future direction. I can manually adjust for changing average VIX. That in turn will change the percentage of discount below the previous closing price for the trade entry prices. This "discount" word in the context that I am using it: I...

Your fair value comments with OEX options sounds like a Doctor defending another Doctor who committed malpractice. You are definitely a market maker (or former MM). OEX options are (as my former MM friend phrases it) "a royal screw job" when the VIX average is above 15 and "slightly less of...

Having nothing to do with the title of this thread, but still worth mentioning: The VIX is breaking down from its long term 200 day moving average. This could mean a market that has fewer sharp negative consecutive declines. It can also mean a change in the intermediate term trend. The...