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I thought I had your trades worked out but now Im not so sure.:confused::) Sounds like the reason for your big loss in Sep was the ol' "holding too long" problem. Something that did not need to happen and the same with me. You must have been very stressed having to click the "close all...

Hello Guru, are you saying you lost money during September? I am very surprised, because in my previous post, I said that I thought you had already found the holy grail. I believe you made around $100k during the Feb Mar crash? So that's a holy grail scenario right there. September is a mere...

Thanks for your response. If i understand correctly, it sounds like you are trying to be more profitable in bull markets. And your bearish strategies/combos were weakened, resulting in your recent losses in September. Your defensive strategies were not as defensive so to speak. So if you don't...

If I may ask, so my question is why are you still looking for a holy grail when i thought you had already found it? Or at least something very robust and close to it. Trades that made you over 100k in SPX options in an 80 vix crash is sort of the holy grail no?

Hi Guru, i am surprised you are still looking for the holy grail because I thought you had already found it. If i remember correctly, during the crash in February/March, when VIX exceeded 80, you made something like over 100k while everyone else was losing money including me. That is a good...

Sorry Rob, did not mean to hijack your thread.

In 2018 with VIX at 34 a narrower spread than this with more days to expiry still made money

Any other day this would be a nice very safe hedge for short options or credit spreads

BOT 1 2820PUT SOLD 2 2720PUT expiring Monday. ES is at 2900 and it is still losing money. Normally would get good change closing this but not now. Had to take a loss. VIX is too high.

Even my super wide ratio spreads with 2 days to expiry is not working in this environment.

What FDIC? Its somekind of government insurance right? Sorry for these dumb questions but im from Australia and im not familiar with US banking rules. I was actually comtemplating closing my positions and wiring my money out back to my Aussie bank account today!! Im worried because...

I have an account with IB and they put my trading funds in a Citibank account. With all these banks going under, is my funds at risk if Citi goes under as well? Is anyone out there worried about their funds with Citi?

Great thread JW, will you continue with this strategy and now open a new June or July straddle? Especially with VIX now so low?

:D one of the best i've seen here :D

Ha ha..i think you're gonna get a lot of pm's now. Maybe i'll have to send you one myself. Cheers and good trading to you.

Thanks for the kind words but i think im still a newbie. Maybe after 5 years of consistent > than 30% profits then i may consider otherwise:) I like flies but just don't like paying the initial debit which is why i go for the ratio spreads. Im confident at worst i can at least make back the...

Not off topic at all as I've learned heaps from the replies on calendars. In a nutshell, I do 1x2 ratios on ES. They are 50 point wide and i've only been doing PUTS. Before doing 50 pt puts, I traded christmas trees which were endorsed by Mav, but I feel my 50 wide ratios are even safer...

I don't have that problem of taking large position when learning because im too chicken by nature and hate losing money, even though i still lose : ) One contract is enough for me to take the position very seriously and follow it everyday. If i was paper trading, I forget that i even had the...

I understand the ins and outs but i like to trade one contract whenever im trying to learn more about a new strategy as i feel it makes me learn better with real money on the line. The classic text book answer to why use a double calendar would be that you expect the underlying to range trade...

Thanks all for the advice people and from what i read, I think i better trade one contract just to get a fee for it. D, If VIX is high, i plan to do some reverse calenders. Wanted to do one on ES when VIX was above 30 on Monday or Tuesday but missed the chance. Risk, I've actually been...