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1) Where else can I work in my bathing suit, avoid politically correct conversation and scratch myself without worrying about who's watching? 2) During freetime I buy more bathing suits. 3) Most years, no. Last year? Big time and then some.

LOL..What's this, mitotic division in the Peanut Gallery? How's it going Pizza Boy? (reaching for my Ben Gay)

Hey Donnap. LTNS. FWIW, I've got nearly 30 years under my belt, dabbling with options. But only 2 of them were good (g). And no pointing at below the belt and laughing!

Dayam! Busted again for being a dumb ass monkey in Vegas. Oh wait. That's someone else.

There's a huge difference b/t "timing the market" and riding some intraday momentum to nab a better fill. Though I may be uneven intraday depending on my bias, particularly with my pairs trading (stock), I never go overnight with any consequential imbalance.

How much did the newspaper cost?

If you're referring to legging in, you know you know when you're getting better fills more often than not. If legging in smokes you, you need to avoid it. Experience, confidence and discipline and a reactive approach to money management take time to achieve. There's no hurry. When you get to...

It means buying the long leg of a spread first or buying the long leg of a butterfly before selling the strangle or buying a straddle before selling the outside strangle, etc.

Yep, legging in is timing the market and to do it, you need the patience to work the order as well as the discipline to immediately fill an offsetting leg if the underlying reverses (completing the spread, etc.). Most people recommend that you work the long side first. That's good advice and...

LOL. In the 2nd half of '06 I started picking up income stocks because the downturn had bumped the yield up. I thought that it was a good time to add to my income side. It wasn't. I was daytrading like crazy, trying to defend positions I wanted to hold. The daytrading provided consistent...

QUOTE]You mean those 0.50% money market rates? Yeah if you cannot clear that hurdle.... Did you miss the "and then some" part? :) You can get 3-1/2 to 4 pct in some MM's now if you can tolerate lower ranked banks. But I get your point.

I don't know a thing about OptionSmart but I wouldn't let anyone auto trade my account in this or any other lifetime.. Whaddya get when they blow it up, excuses? Oops, we're sorry? A very common trick with many newsletters and online services is that they use the high (or low) of the day to...

Chris, My BS is that it doesn't matter what your position is. If you have gains, take them or lock them in. If you have losses, try to trade out of the position when it's going against you. Capital preservation is paramount. Complacence is a killer.

Phil, I think that there's a need to beat money market rates (and then some). If one can't do that consistently, one really needs to find another hobby/profession. Mark, I'm really rather cuddly when swathed in 100 dollar bills. Adopt me !!!!

MushinSeeker, Reg T dictates the margin requirements not the ability to do naked writing. If you have the approval level for naked options from your broker, you have a margin account and you have the margin to support the position, you can reverse calendar to your heart's delight.

DMO, I'm not advocating the 4:1 ratio concept. I was just stretching to find a circumstance where the strategy might appear reasonable when viewed simplistically w/o IV change, etc.. Obviously, there are much better ways to approach the situation. And even tho it wasn't my idea nor would...

If one ignores the disparate rates of time decay as well as the concept of IV change (a polite way to describe a neophyte), I would think that the 4:1 ratio might seem enticing because the far month provides a larger premium and would appear to offset a lot of the cost of the long leg. However...

We care because we're nosy. If you made 50% a year, I'd send you my adoption papers :)

Yep, that's what I was doing for pre earnings IV inflated situations where there was a fair amount of skew as well (and the back month was higher than H-IV). It would make no sense to me to buy more of the near month in the calendar ... but I suppose that there's always a possible situation...

You file it like you file everything else. Your broker will send you the appropriate tax documents. Capital gains (losses) from the stock and options go on Scedule D. Where the distribution goes will depend on how it is defined on its tax document - dividend, cash in lieu, (add'l shares when...