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Ummm, do you know of any options where you don't pay the spread?

Perhaps he put the "Elite" in NYC? A big thumbs up for that :)

I used to scan the FDA web site but that place is a black hole that can suck hours out of your life. Try FDAnews.com :)

READ everything you can get your hands on. When you understand it and you want to make some easy money, put together a slick presentation :)

S&R reflects the price domain. Canned indicators are derivatives and often misrepresent what is happening in the price domain (eg. stochastics, MACD, etc.).

Also, use a risk graph and play with ratioing the legs. If the stars align nicely, sometimes you can find a nice "W" curve where the profit peak in the center is twice the max loss on the wings. Exiting these after the EA is somewhat of an art as well. Many are profitable in the AM and...

Not exactly. The losing side of the straddle is a drag on the winning side plus both sides have contracting IV. In addition, the delta of the short ITM leg is rising much faster. A big move can hurt.

A pair of calendars. Or a pair of strangles (different months). Or a straddle and a strangle (different months). Or an iron condor (diagonalized). Or a butterfly that's not a butterfly because the short strikes in the center are different :)

That depends on how inflated the back month is.

Charts are useful for determining support & resistance and trends. Indicators will confirm that but they have no predictive value. As some say, studying patterns is as reliable as looking for images in the clouds :)

Could you DEFINE what you mean by CORRECTION?

With CC's, breakeven is higher before expiration. As premium decays, BE drops. So if XYZ dropps immediately, you may never see BE. If XYZ drops, you have to decide if you're a buy & holder or a trader. If the former, you ride the bronco, possibly DCA-ing with more shares. You can roll...

When an UL that I'm willing to own is near support (neutral outlook), I often sell a bearish call spread on top of a NP if I can get at least a buck above the difference in call strikes. For example, sell an ATM Mar 70 straddle and buy Mar 72.5c for a net credit of $3.50 ($2.25+2.25-1.00)...

Also, if the call traded below parity during the day, you could have caught the random assignment. Doesn't matter where it closed.

I'm not a pro but I've had a couple of really good years here and there so maybe I'm a part time pro :) There are a mulltitude of ways to make (and lose) money in the market so I don't think that there's a simple answer to your question because each of us has different objectives, talents...

A double diagonal is essentially an IC whose long legs are in a later month, usually the next. So if you can buy them cheap enough, the hard IV crush hits the near month much more. That gurantees nothing since you have to have a decent guesstimate of where the post news IV lands. If the 2nd...

Apr options should trade tomorrow. If their IV is toward the 150% of JUne rather than up in the 200's, you might be able to construct a double diagonal of sorts that captures IV contraction and isn't whacked too hard if the short strikes are breached.

ITMN? Nice double top formation !!! :D

FINRA says that any margin customer who buys then sells OR sells short then buys the same security on the same day has incurred a day trade. I have never seen any qualification that says that if you already had a position, that negates the buy and sell of the same day (or conversely, the sell...