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Yep, those look like quarterlies to me. + Dec. LEAPS and quarertly LEAPS, apparently. Hence, no June or Sep 2012, yet.

Yes, congrats. 4. It's more a matter that trading is full of tough decisions. No one else should make the decision for you. That's how you learn how to trade. 1.&3. Pretty good choices. (assuming that the stop works) 2. Risky. What's your outlook?

Have you ever clicked on the discussion tab? The debate goes on and on.:)

It's debatable. I side with stoic - net short premium = short condor. Probably the majority would say otherwise. I don't get that. You sell 2 credit spreads and it's a long condor. OK. Somebody screwed up the terminology and it stuck.

And you post the trade when the contract is about $1.00. Your credibility is shot. You change a trade and now you post one with a 30% gain. Waste of time fubar.

Conversion/reversal. In this environment. you'd have to go long term. With higher interest rates, you could do it shorter term. Of course, taking the loss on the reversal makes no sense, but it fits the OP.

:) The hoco line was hilarious.

Delta assumes that all other pricing factors are static. But the relationships are dynamic. For example, delta may say that the option price change should be +.60. If the change is only +.40, then the .20 difference is attributed to a drop in IV - assuming all other pricing factors are...

A hard stop is dangerous. MMs will gladly fill it for you. A trailing stop is suicide.

I dunno. I be hypmotized by those charts.

Have you been drinking? ;-)

Left Brain Dominance: (8) Right Brain Dominance: (13) Part art, part science

I don't think that he was trying to confuse. Perhaps his explanation could have been clearer, but it's not an easy concept to explain. The "loss" is in the call pricing, but is caused by the div. payout. With CC writes you don't pay the div., you lose the stock. However, what pberndt...

Yes, really.

Hey newguy, I think that you covered it pretty well. You may prefer a low IV entry. Higher initial IV is riskier. With earnings, you may have the skew in your favor, although that can be relatively meaningless with inflated IV. The backmonth contraction, though smaller IV wise, is...

No. Ex-div. is the event, not expiry. The calls must be exercised by the holder.

Incorrect. The whole point of this thread is that the div. is not adequately priced into the ITM call. Your statement is correct regarding puts and those calls with TV.

The exercise is done because the calls are worth more exercised than not - due to the contractual nature of Amer. style options. Because Amer. style cannot have a FV below parity - the div. is not completely priced in. So it is a matter of "capturing" the value of the call - not the div...

The OTM put calendar can be a low risk directional and vol play. Generally, better R/R in low IV situations.

Who let the monkey out?