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Guys, I don't know what the heck you are talking about! The only way to make money with ICs is to use _____ and the only reason people lose money on ICs is ______ (I'm talking from experience).:D

Sure you can do this, but then you should not be surprised at the level of "service" you'd receive, which would be, at the very least, halved (if you are lucky) as well...

Actually, you can't determine whether he increased open interest with his trade or not, be it a buy or a sell, as the open interest increases only if both sides of the trade are opening new positions. If the person on the other side was closing out then open interest didn't change.

On what planet?

Noone can answer whether you have an edge or not, it's entirely up to you. You edge, if any, may be coming from the choice of intial strikes and/or when, how, and where to you roll.

I don't know, I haven't read the book yet, just found the term by accident, so to speak.

Interestingly enough, the CBOE's regulatory circular calls it a short iron condor (i.e. long the wings, short the body).

Today I received the "Option Strategies for directionless markets" book by Anthony Saliba. So I open it up and I see that he also refers to the iron condor where you short the body and long the wings as a long iron condor. Don't get me wrong, I'm not admitting defeat, I still think "selling"...

I think my logic works pretty well for almost all spreads, except a diagonal, which sure does blur the line between long and short and buy and sell. :) If I'm not mistaken, when trading calendar spreads it is customary to define them with respect to what you are doing with the back month. So...

With all due respect, what's with the capital letters? By the way, I do have my own approach to ICs, I wasn't asking for advice, so no need to tell me about my comfort zone and etc. I just wanted to see what risk/reward ratio that particular trade had.

Equivalency is totally irrelevant here! - If you enter a position and pay money for it then you're long and you bought it. - If you enter a position and you received money for it then you are short and you sold it. How can you buy something and be short it? Your reasoning doesn't make...

The sentence in the beginning of article under "Option terminology" doesn't make any sense at all: "You buy an iron condor when you sell a call spread and a put spread" How can two "sells" yield a "buy"!? If you do a trade for a net credit then it is a sell and NOT a buy!

jwcapital, just out of curiousity, what was the width of the spread (body strike to wing strike, that is) that netted a 6-point credit?

Everyone makes money papertrading...

It's a fee that is charged if you cancel an option order.

It's a trading turret.

I always say that I can't give an investment advice without knowing the person's situation in detail as it would be unprudent of me to do so. By the time I finish the sentence most people lose interest as what they are really looking for is to get a tip on how to make a quick buck rather than a...

Back in Sep-Nov 08 was a volatile environment. Now, it's pretty manageable.

Technically it's not a synthetic stock, but a synthetic forward. In other words, the interest rate and dividends are built into the price of the synthetic.

Urgh, stupid me, I forgot it's a diagonal, I had a calendar in mind. Disregard my previous post. Sorry!