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Right... overbought can stay that way, but with a 50 - 60 point cushion (FOTM), you would have certainly been in good shape when the market finally did turn over for that cycle. Of course, you still manage the position in the case of trouble.

This may not seem like good TA but humor me here .....observing the SPX over the last 1-2 years, I notice that using a Full Stochastic setting of say 14,6,6 and watching when the fast line has moved to at least 90 or above, if you sell a FOTM bear call spread when the slow line crosses the fast...

Rally, When you say "systematic", what do you mean ? What TA indicators are most relevant from your perspective ?

I dunno , Fear is a much more powerful emotion than greed. Panic selling is the thing I hate to see the most when I'm in a PUT spread.

Coach, The volatility changes over the last month have me thinking that I don't want to do PUT spreads anymore, only CALL spreads. I'm just concerned that a black-swan event or run of panic selling could crtically hurt my account and psyche. I'm starting to think that I only want to do...

Newbie question related to Butterflys. I was examining the P&L chart on a OEX 580/585/595 Butterfly this morning and noticed that it paid a credit of around .80 and had the potential to make 5.00 or so at expiration wth the OEX @ 585. I'm wondering if you put this position on, how does the P&L...

Yeah, I haven't been too fond of OX's not indicating the negative number somehow in my Watchlist. Only when I attempt to trade the spread do I see the negative Bid number. :mad:

Coach, You didn't hedge those call spreads when we weren't looking did you ? :eek:

Yup. Wouldn't be surprised if we end up flat at the end of the day too !! Seems the price of oil is being ignored.

Anyone still considering APR Bull Put Spreads at this point ? If so, what is your short strike? I still haven't opened any and was hoping that Coach opening his put spread last week would have caused the market to drop like a stone (suprisingly it didn't happen .. yet) !:confused:

Donna, I believe you're short the APR 1335c right? I'm in the same position (if so) ... Today, mY Full stochastics chart looks like it has peaked (strong buy) and may be turning over for a run down. Let's hope so. I may need Coach's hedging advice on my Calls this month!

Agreed. Just wanted to hear another opinion on the subject. I had an IC this month, so I would still be positive 8.3% ROI after commissions. Thanks.

2 different accounts averaging about 48 cents for 120 contracts. Current bid ask is 0 / .45

Coach, I'm in the 1325/1320 MAR .... holding on at this point but I'm wondering how much (if any) decay in the strike values will occur as today wears on ? Or are the MM's really pricing the strikes based on an up SET tommorrow ? Should I consider selling potentially 1/2 my contracts and...

Coach, We need your help. Please open up a call spread and buy some hedges too .... that should turns things around in a hurry ! :p

You got it ... last 15 mins. I was somewhat shocked .... can't remember my last fill that was @ mid.

Got a fill of .90 on the 1335/1345 APR Calls.... surprised, as it looked like the mid at the time of the trade. :eek:

Coach, What are the equity requirements for your MAR short straddle ... 5 contracts right ?:confused:

I would expect some more downside now that we broke 1280-1282. You'll soon have your "pick of the litter" this week ... (am I starting to sound like a Fortune Cookie?)

Coach, What APR PUT spreads are you looking at ..... 1205/1195 range ? :confused: