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Two and a half years ago, I entered this world with big dreams and a pounding heart. I leapt onto the coattails of a chance acquaintance, paying for the ride. Options were his game, and his battle-scars ran three-decades deep. We played covered calls, with LEAPS and front-month...

Joab and Achilles, thank you for your advice, and a collective depth of wisdom that can't be ignored. Great expression. :) De ja vu?... http://www.elitetrader.com/vb/showthread.php?s=&threadid=61802

The whole purpose of the MBA for career changers is to enable new options. Not to mention the cachet of a top-tier MBA.

By $200k I mean 100k GBP. Coupled with inflation, high taxes and less 'bang for the buck', retiring at 40 might be a tad optimistic. Also, the ultimate goal is more akin to a long, fulfilling and challenging career, plus absolute financial freedom rather than a comfortable, early retirement...

Just wondering if anyone else had any thoughts?...

Really appreciating the responses so far. Drjmpc - have looked into all the MBA options, from EMBAs, to 1 yr European (i.e. IMD, IE), to 2 year European (IESE) to 2 yr American. Advice for career-changers is almost invariably to go with a full-time 2 year option, and as big VC tends to be...

Thank you. So Lilduckling would advocate A, and Jasonn B. Any other opinions?...

Hi all, Was pondering a hypothetical situation, and wondering if I could get a few objective opinions: Take Jack. 29. Fairly successful in a non-finance field. $200k for an easy (albeit dull) 40 hour week. Passionate about the markets. Until now, decisions have been easy, but has come...

About time I say! Can start scouting for some quality longs again.

Well, today offered the entry (which I missed of course), and it looks like a follow through is on the cards.

Nice call on oil, Cache. Speaking of which, why not turn your attentions back to OIH? It's broken convincingly out of it's seven month downward channel and IMHO, 130 could offer a great entry; high probability with an attractive R:R profile.

I'd be a lot keener on this trade if it coils above the 200SMA for a few days, and the indices churn/correct. On the whole, I'm steering clear of oil stock until OIH convincingly breaks out of it's downward channel and 135 resistance.

SHLD is looking great for some puts, especially if Monday allows an entry closer to 160. I also like KBH for a quick play. Why not short OIH when it fills the gap? Look at ICE and GENZ for your bullish on retrace list. Just my 0.02.

With even the NDX now above long term resistance, surely all bets are off on the short side?

Thanks again, Mo. You're right, I think I misunderstood, and box conversions definitely look useful. I suppose you're essentially choosing between assignment risk and pin risk when choosing between debit vs credit. On balance, I think I'd prefer the former... although I'm sure it occurs...

Thanks for that, MoMoney. Hadn't realised I could achieve the equivalent by legging into a box. Does seem a bit more hands on though, i.e. after I've bought back the short, will usually look to set a trailing stop on the long leg. May not get the best exit, but fair chance of at least B/E if...

With credit spreads, if the underlying goes against me I can leg out without holding naked shorts.

Thanks.

Still relatively new to options (nine months), and discovering my trading style, find I'm increasingly leaning towards (just) ITM credit spreads to trade single direct equity moves. I prefer them over their debit counterparts simply because of the opportunity to leg out if the trade goes...

Yeah, TA's not everyone's cup of tea, and many call it self-fulfilling prophecy. Haven't got much of a head for economics. Would much rather look at pictures :p