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he is right. even if you have all "100" pieces of the puzzle, you will not be able to replicate it easily. part of his edge is implementing the pieces. you can know the rules and some tricks of baseball; but ultimately to succeed you will need that intangible ability to make it all work...

that really hurts......

my stop is at 5.5 for this trade. i determine this on an ever changing set of rules......i look at how my debit spreads will perform (thus reducing losses)and how the roll down and out will be priced in the event my stop is hit. these #'s and scenario's change daily.

no complicated answer here; i am more experienced with er2. es pays half of er2 for each margined dollar. i know it is also more volatile.

UPDATE NEW POSTIONS my current positions er2 @ 763.70: -10 DEC 835 call sold @ .80 er2 traded @ 770 current value: .27 -10 dec ER2 puts 692.5 sold@ 2.50 er2 traded @ 751.2 when sold today value: 1.91 -10 dec ER2 puts 695 sold@ 1.75 er2 traded @ 769 when...

maybe i was not clear in my parentheses. i was not suggesting he trades one style and then wondering what it was. if he has mentioned that he tends to be a short gamma trader, i missed it. i would then (as others must be) interested in a brief thought or two on he trades short gamma. how...

mav, i cannot be the only one wondering if you consistently trade options? if so, then can you give us an idea how you trade? i do not mean actual trades; what types of trades(ie: ratio long/short combos, debit spreads, straight long or short, etc ?). i have been here a long time and...

i really hope you were trying to be funny.... i have been in the industry for 35(and i am only 40!family business) very successful years. this is just the beginning, i have seen it before; except this one things went up even higher than previous times. anyone who is in any authority that tells...

my short puts are 10% out right now; if a move like that happens in one day, or 3 days(it happens fast, i know) i have buy stops on all shorts thus ensuring that i have enough of margin to roll down and out. honestly, it would be interesting to see. i rehearse that all the time. taking the 70k...

yip, good question. i am sure there is no right answer. i am just more comfortable being naked.... some things to note.. my short calls were 805,815 and 820 for nov. with a net average credit for the same.6 or so. closed in the .05 to .10 range. my puts were 625,640 and 680 with credits...

i am just saying that i write short options "further" away from the underlying than most spreaders do. imo, a spread is really a naked bet anyway.you never ever want the movement to come close to your short, even with that hedge. most expectations when the trade is initiated are that the...

thanks jeffm, i now have a rut 690/680 debit bought for .40. for every three short er2 puts @692.5. anyway, i would still do the old roll if or when my shorts are threatened. i also have (ala taleb) sort ctm puts ratioed with long otm puts. all this is experimental of course. like coach said...

thank-you coach for the excellent reply. again, if anyone else has repeatedly used partial hedges or done any analysis; i would be interested in hearing your thoughts. being a month away from year end after having a great year, i am increasingly thinking about these things....

coach, when putting on spx credit spreads you have discussed the buying of other options as a hedge. i am interested in your comments regarding buying a 10point wide spx debit spread just above(or below) your credit spread in a specific ratio to the credit. as in all hedges i clearly...

right now , overnight margin set aside is 25% of my account. very important to know is this changes based on so many reasons. therefore i would recommend figuring maximum margin for all positions (3500 per contract); although it rarely gets to that point. you also need enough to roll if that's...

my return this year has been about 10 percent each month. again, i feel that in doing spreads you are placing your bets closer to the market to receive that tiny premium. i am further away than spreaders,i receive a greater premium, and i can manage a position gone bad better...imo. again, to...

my current positions er2 @ 764.70: -10 nov 805 calls sold @ .85 current CLOSED @ .30 / ER2 TRADED @ 751 when closed -10 nov 815 calls sold @ .8 current value: .3 -10 nov 820 calls sold @ .55 current value: .20 -10 nov puts 625 sold @ 2.40 CLOSED @ .05 er2 traded at...

anyone who tells you that things have bottomed is either lying to you or severely improperly educated. i am 40 yrs old and have seen this repeated 3 times. besides my trading, my family business of 35 years in the cabinet industry has taught me how to identify what is happening. i am certain...

alright mo.....thank-you again for your well thought out posts. also, if no one else has said to you i must be among many who are grateful for the clarity and time you put into your responses. so as not to burn you out , can you answer this in a yes or no fashion? ratio spreads and ctm...

well at least i can thank myself for getting you guys to REALLY tell us how you feel!:D