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Thanks to all replies for my post. Mark, Glad to see you come back to this thread. Thanks for your insight. I have some experience on selling DOTM spreads on SPX, RUT & GOOG, but I have never done buying Iron Condors. Before using this strategy, I need to research, study, get some...

sugar & FT79, thank you for your comment and advice. My prediction for the market is totally wrong. For the last two days, SPX lost 58 points. My short strike 1360 is ITM now. It is too late to do an adjustment for put side. I closed 1430/1435 call spread and rolled down to 1395/1400. I...

SPX closed @1395 last Friday. My outlook for the market: SPX is not going up or down too much in two weeks. I’m thinking to do the following 5 point Iron Condor Spread with SPX (paper trade): Buy 10 Feb 1435 Call Sell 10 Feb 1430 Call Credit 1.25 x 1000 = 1,250 (estimation) Buy 10...

Thursday S&P 500 closed @1333.25. Friday morning, the future for S&P 500 was more than 10 points higher. However, the Jan S&P 500 settlement value ( SET) was 1333.94. Is there any relation between S&P 500 future price and SET? How to decide the price of SET? Thanks in advance.

"The more careful traders sweated a little and came out just fine." I agree. This is a very good thread. I am glad to see some people visit it and raise some questions. I hope the Elite Trader will keep this thread for a long time. If I have time, I'll go back to read from the beginnig...

I have been doing credit spread using SPX for a while. I would like to try to use RUT. Before using it for doing credit spread, I have some questions: 1. What kind of style of RUT index is? 2. What day I can trade before expiration? On Thursday or Friday? 3. Does it have the risk of...

I sold 5 GOOG Oct 580 Calls @ 60.10 when GOOG was @639 this afternoon. I have a nice profit for this spread. This was my first time to leave one leg open and closed the other side when doing spread. I remember when I try to do something, I am always lucky for the first time. Buying stocks...

Mark and other Experts, When GOOG was @580, I entered the following Bull Spreads: BTO 5 GOOG Oct 580 Calls STO 5 GOOG Oct 600 Calls Debit 7.40 Cost $3,700 Today GOOG was closed @616 Before closing, I did the following: BTC 5 GOOG Oct 600 Calls Debit 26.00 Cost $13,000 I left...

Mark, Thanks for your quick response and good advice. The reason I prefer 10 contracts of 20-point spreads is to limit the risk of SPX SET. Assume in September, my short put leg is 15 point away from Thursday SPX closing price before expiration, and I know there are no big economic...

I have been doing SPX CREDIT SPREAD since Coach started this thread. So far I am doing ok. The total gains are over total losses. This month I suffered a big loss because markets are so volatile. During the past four weeks, I entered the following spreads with SPX in my two accounts...

Coach, Thanks for your advice. I closed my 20 Jun 1225/1240 put spread @6.00, and took a loss of $7,000 this morning. I tried a couple of time at mid point, but never got filled. I still hold my 10 Jun bear put spread 1245/1255 spread (partial hedge). When I got home this afternoon...

Coach and other experts, as SPX closed @1236; I’m running into trouble for my June SPX spreads. I need your advice. I have the following positions for June with SPX: Sold 20 June 1370/1385 calls @1.00 Sold 10 June 1370/1395 calls @1.50 Sold 20 June 1240/1225 puts @0.75 Total credit...

Coach, Were you a student of Bentley College? It is a nice school in Waltham. I live in Newton, Mass., 10 miles from Waltham. I wish you can come back to Waltham for a visit. I have your book. It was my birth day gift from my daughter. I would like to have your signature on the book. I...

Coach, Thank you so much for your excellent posts on this board as well as Yahoo options board. I have learned a lot from reading your posts and book. This is my first posting on this board, and I have a question: I put a limit order for selling xeo Oct 530/545 put spread @0.65...