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You're absolutely positively correct. You're always making a bet on the greeks. :D However, betting on the direction of the underlying through options (if your timing is good) yields the most profits and return on equity, so long as you're buying cheap IV that just started to reverse upwards...

Who is the world's record holder in options trading or does Dan have that too?

Another 5% here at 878. Current position: Short from 814.25 + 30% hedge. :)

Adding 5% here at 881.25 Current position: Short from 814.25 + 25% hedge.

I'll take off another 5% here at 892.25 :) Current position: Short from 814.25 + 20% hedge.

Taking off 5% here at 886.25. Current position: Short from 814.25 + 25% hedge.

Why not? Adding another 10%er here at 881.50. :) Current position: Short from 814.25 + 30% hedge.

Just saw that post. Super nice trade ammo. :)

This history, is it recent? and is it based on PA, volume, Fib...etc.

I didn't know that! Is that technically speaking? Please elaborate on how you determined 817. That would be 3 points shy from my short entry, and even though I've written this position off since I'm up on it nicely through my hedging activities, I wouldn't mind seeing it print in that area. :)

The way I see it from a volatility stand point, (by no means I'm not a technical trader) if the market wants to keep the trend intact, we should not drop below 885-865 zone this week.

Glad I exited some yesterday. Adding 10% right here at 891.75. Current position: Short from 814.25 + 20% hedge. The futures position is improving considerably. :)

Out of my 5%er right here at 906.25. That's what the market wants to give me for right now. :)

Adding another 5%er here at 899.50. Current position: Short 814.25 + 15% hedge.

It's quite healthy to display a friendly and supporting ego (which really means self), specially in our line of work, as it encourages to push ourselves further, so long as results and reality are standing behind it. It's egotism that we want to desperately avoid.

My south beach condo ?? :D

Back up to 10% hedge here at 910.5. :)

An update on my trading operations the past several weeks pertaining my posts in this journal only: Gain/loss per position from hedging activities: +169.25 points. Gain/loss per futures position in ESM9: -113.25 (still open) with ES currently at 927.5 Net gain/loss from open/closed...

Zero hedge right here at 924.5, so help me god. :)

Sold half of my hedge in the AH session here at 911.25. Current position: Short 814.25 + 5% hedge.