I'm not Cache obviously but something to think about with your diagonal: Large slippage,b/a spread in ITM Leap is likely. If you run the numbers,...
Yes, the long butterfly is short vega, short gamma and long theta. It wants the underlying to sit still and gains value as time passes if in...
The most popular beginners book on options is "Options as Strategic Investment" by McMillan. Haven't read it myself but have read his other...
Yeah, always room for confusion (and disagreement) on the terminology for this one: (Ex.) MMs in my experience, tend to refer to long...
Ok, so you're legging into a Bear PUT vertical. You went naked short first...presumably that's why the Reg-T margining is a concern for you. Is...
Hi Iceman, Nice journal. Keep it up. Great reading. Quick question: what is your reasoning/analysis for going long MNX PUTS? In addition,...
True, if you had been long the stock probably would have been more profitable...but hindsight is 20/20 and long stock has unlimited downside risk...
Skanan, Hello there. Did you consider rolling up your existing GOOG vertical to lock in the profits and build expectancy rather than opening a...
Skanan, Do you have a limit for how far out you will go short gamma? I personally, don't go further out than 40 days but preferably less -...
LOL Indeed, any strategy with more than one leg is a spread. True, this thread has long since ceased to be a journal of Phil's credit spreads on...
The $20 per month for the advisory equates to $240 per year which on a $10,000 account (the maximum allowed) is 2.4% - Gatorplease was viewing...
Gatorplease, OK. You're ahead of me. You've had experience with them before, I have not. Furthermore, I have no experience of any other...
Gatorplease, I signed up for the mini-basket advisory but will not be auto-trading it. I'm looking at it purely from an educational point of...
Okay I lied, one last post: Not quite: 100 SPX Spreads for $4000 (ROM: 4%) 1000 XSP Spreads for $5000 (ROM: 5%) Figure 1$ per contract...
Last post for the year on this thread from me :) As solicited by Phil, Lessons learned 2005 (and continuously re-learning): Under all...
For those that are interested on the debate between whether options are priced in terms of trading days vs. interest rates accruing in terms of...
If you think you've found a difference between the SPX and XSP, there be arbitrage in them thar strikes...shhh don't tell anyone. Buy the...
LMAO. No more beating from me :D
Lol. I seem to have reached the limit of my explanatory powers here. ANY strategy will work often under the right circumstances....
Ludmil, Rooting out bad strategies is a sensible idea. However, I'm not convinced there is neccessarily such a thing as a bad strategy,...
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