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Coach (and others), I recall this coming up quite some time ago, but why is it you prefer SPX over OEX/XEO? The SPX premiums may be a bit higher but that's because of the SET debacle.... which the XEO does not have.

My 2 cents: oil got above $64 last week, any report showing the economy is hot may adjust the Fed's "almost done" stance, the first week of January is when funds invest a lot of new money, overly optimistic sentiment right now, the yield curve remains flat/inverted,... and fundamentally, nothing...

I guess if we're playing connect the dots, take a look at this one....

I'm not sure what you mean by that....... to me, if it reverses down then it's staying in the channel, if it keeps going up it's broken out of the channel... What is the perspective... kindly explain.

Gator, As I mentioned earlier, the RO advisories were for educational purposes only... so I don't know whether they were profitable or not. Overall, I found that I'm better off doing my own trades....

I have subscriptions to all their strategies (just for educational purposes). I've come to the conclusion (DOH!) that although they suggest trades for each and every strategy, all of the time, a wise trader is supposed to look at the market conditions and pick and choose the strategies to deploy...

Interesting... so to take advantage of a long weekend theta decay, one would have to be in the position a couple of trading days (to be safe) before the start of the long weekend...

Then when does the 3-day decay actually show up?

Coach, This topics has come up before... does theta decay actually work over the long weekend or has that decay been priced into (spread out over) the number of actual trading days? In other words, does it make a difference whether one sells a credit spread on a Fri versus a Mon? I've heard...

Coach, Have you looked at doing credit spreads on SMH (ETF that tracks the semiconductor index)?

Coach, The support at 1250 (previous low) is now broken. The next support is 1245. What's the next support after that?

OK, got it (makes a lot of sense)...

I meant buy put spreads as your primary position instead of selling credit spreads (if you expect the market to tank)... given premium is so cheap right now...

The chart does indeed show support to be holding... but the way the market fell in a couple of minutes tells me there's some nasty internals at work... so I wonder how valid support/charts are right now...

If you're best case is only a 3% return, aren't you looking at spending close to that whole amount if you have to hedge? 3% does not leave a whole lot of room for surprises and mistakes. I'm doing 45-60 day spreads for 10%,... and putting the hedges in for cheap same time as the actual spread...

If that's the case, why not buy some cheap put spreads instead?

Murray, Same thing in CA since we did not use the heat last month. How does it compare to this time last year?

I think a sharp 20 or 30 point drop in early Jan is quite possible......

I have accounts at TOS, OX and IB. TOS' platform is superior to the other two brokers' platforms. IB is the worst. You can't enter a vertical roll as one order. You can't even enter a condor as one order. Using TWS is like driving a tractor -- with blindfolds on. In terms of trading SPX...

Murray, How does OptionStation software compare with the TOS analytics tab?