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Hi galvinlee888, Are you suggestion that you should just stick to pure ICs instead of attempting dynamic adjustments? Only attempt these ICs when the market is favorable for that type of strategy? Thanks, droid

funny you said that. I read it for 2 whole days straight, I didn't realize it had 40K plus posts and stopped after a few hundred! I have also read his book "The Option Trader Handbook" and didn't know it was his book till later in the posts. Lots of good information though, in both the posts...

wood thanks for the info on TOS apread hacker I will check it out. John thanks for the info on some of the above. I put in a paper trade today just to test it out. I put in one for SPX and set for the mid of the a little lower then the mid of the b\a. The thing I noticed right that I didn't...

nfamousyoungest, Thanks for the link to the ET topic on OptionCoaches journal trades. I have been reading it all day! Up to like pg 40. The posts answer a lot of my questions and have generated more, which I will post when I am finished reading!

Thanks Carl, I will check out those links. I was just curious about all the hoopla surrounding "max pain" and thought it was appropriate time to bring up :)

Hi wooldog, Thanks for the info on TOS. I running through some paper trades now to get a good feel of how it works. So what stocks do you use? I have read indexes are normally better bc the volume is high and the open interest allows for easier\better fills.

It is I think MTE was just showing another way you can do using TOS

Nice! Thanks all :) I have some good places to start looking. I just recently read that one why to get a rough idea of the short strikes to select is to look at the deltas of those options. The author said if you add them and subtract them from 1.00 then that is roughly the percent the...

Hi all :) I have been trading options for a little over 3yrs now with pretty good success. Mostly just selling covered calls and cash backed puts. Lately I dabbled into selling some credit spreads with good success. I am interested into getting into Iron Condors. I understand how it is...

So this is what someone posted on a DRYS board a few days ago. Talking about "max pain" I am still curious as to how it is calculated and how do you determine a number from below. Also I am not looking to "educate" anyone, I am looking to be educated on this topic. December 14, 2010 -...

Hi ForexForex, Sry I should of been more clear. I didn't mean ET posts. I meant others, typically stock boards such as Yahoo. If you go to just about any ticker symbol someone is yapping about "max pain" and others throwing around numbers and how they figured it out. I thought by posting...

Hi all :) So with opt exp coming 2mor I have been reading a lot of post on the boards about "max pain" I am aware of what it is, but I am confused as to how it is calculated. Also whats your guys opinion on it, is it a wife's tale bad investors use as an excuse as to why their position is...

yes, ultimately I want to move my Jan11 calls out to Jan12 Thanks, droid

Thanks guys, spin do you think that overall it is a decent move, giving a short to medium term netural bias? white, I like the idea of the selling the put spread, but I already own shares also and don't want to grab more. Also it will tie up more cash. Thanks, droid

Hi all :) I am wondering if this strategy sounds decent more in a general context vs the specific example. a few weeks ago I bought some far out (JAN11) ITM(5$ )DRYS calls @ about ~1.40. At the time I felt medium term bullish. With the whole Gulf incident I think it is going to put a...

Ah thanks I see :), it is hard to see that second column

I thought maybe it was a broader concept not specific to TOS. I tried to google and didn't get anywhere.

bump anyone?

Hi all :) I am Using Think or Swim's "Spread Hacker" To scan for possible spreads. The last column in the scan results that come back is "delta pin" for each spread. I understand what delta is, but I didn't know what they meant by delta pin? Thanks, droid

Thanks spind! I have a new book coming soon, so I am sure I will have more questions :) droid