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I surmise that you meant straddle, as in "How do you manage a straddle going bad?" ? You can do as you suggested as well as sell more premium on the other side but there's almost no way to defray a short straddle's accruing losses on an underlying that is moving hard against you. That's why I...

The craziest implied volatility that I have seen was the crash of '87. Much of that was artificial since B/A spreads were Holland Tunnel wide and you couldn't transact since the haircut was more like using a guillotine. At that time, I didn't know enough then to take advantage of it, so I...

I have no idea how it came to be but I've been getting it for free (print) for 20+ years or more (?). While much of it is beyond me, I have found many of articles that have expanded my knowledge in areas of interest.

Hotkeys can speed up order placement. As for improving reaction time, for me, that came from repetition. When a position blows up and I choose to defend, I know how what I'm going to do and how to methodically do it (rolling, hedging), eg. the game plan. It doesn't mean that I will succeed...

They'll be added by Monday.

I can't tell you what's best for a number of reasons. Since I'm just a reasonably knowledgeable retail guy, I can only share my experience which is far from comprehensive. Perhaps some of the former MM-ers here can enlighten us. Be that as it may, I prefer entry with wing protection in...

The low odds of something bad happening are 100% irrelevant until you're the one it happens to. Only risk what you can afford to lose on short strategies and that may be impossible with naked strategies. If your strategy yields close to 100% yield, waste some money on OTM long legs (...

How do I elevate my desktop off the floor? Ummmm, a desk ??

ajacobsen: "It sounds like you ... TradingDemystified: " It is a bit unclear what your current situation is and what you are trying to achieve" lylec: "Please explain your definition of a synthetic and underlying?" Me: "It's not clear what you are trying to accomplish." You: "If I read it...

It's not clear what you are trying to accomplish.

Premiums are fat because earnings release next week. If willing to hold short puts through ER, use a spread order to try to get a better fill if rolling to next week. Roll strike down if you want more downside protection.

I wondered about this as well and posted a brief comment to this effect earlier this week. I've been away for 4-5 years and now, the level of participation is far lower than back then. What, no ribbons or trophies being given away anymore for participation??

Could you provide some links? Now that I'm retired, I'd like to be a part time neurosurgeon ;->)

As they say, don't confuse brains with a bull market :->)

Given the OP is a beginner, I suggested utilizing the B/W order instead of legging out. If the OP has approval for naked options (not cash secured) then the synthetic short put is usually a better since it involves fewer spreads and commissions. If we're going to advance past beginner level...

Your numbers are correct. Unless you are legging in or out in an attempt to get a better fill, utilize a Buy/Write order to simultaneously execute both legs of the transaction. For your opening transaction, the B/W would be to buy at -$83.54 and to close the position, it would be to sell at...

The first edition of Options as a Strategic Investment by Lawrence McMillan, around 1987

Suppose you trade ATM options. They have a delta of approximately .50 so that means that you need two options to nab the same initial move as the underlying which in turn means that you are paying double the number of spreads and they tend to be wider than the underlying's B/A. So for scalping...

Call it the Troll Fund. Did you mean "See you in a Dodge Monaco?"

For a sound foundation, read "Options as a Strategic Investment" by Lawrence G. McMillan. It's well written with many clear examples. 100 pages or so will give you a fundamental understanding of covered calls, short puts and spread. It also explains a variety of other option strategies and...