I opened up a small account with brokersxpress (exactly the same as OX, and got chartbender for two month free. Still looking at it. mcavanaugh@brokersxpress.com
Looks interesting. I like the idea of adding (as opposed to Rolling - simple mind here too) to another position. Will experiment with that strategy - Thanks.
At the beginning, I have just one calendar and wait to see what happens. When approaches b/e, I then make second calendar to even it out. If market then goes out to my b/e for a second time, I'm out. Hopefully small or no loss since I monitor carefully the b/e. Of course the first couple of days is tricky since my b/e range is very narrow. Very simple, very risk adverse.
update: Original position, IWM aug/sep 66 and 69 put calendars. Market moved up briskly and had to liquidate my 66 put with a 25 cent loss, and left my 69 put on. The loss basically balanced out the gain on the 69 put, and I am at break even. Will give it another day and see if I can get a nickle or two profit.
Quick update on my VIX diagonal calendars. August was another great month but unfortunately after 3 months this has come to an end. The SPX has broken the recent highs and the vix has collapsed. The nice tenor skews are no longer there. Well, there is still some 15-20% skews but given the euro style settlement, those are a gamble in my opinion. Having said that, i have unloaded all my '07 long strikes and will be back trading the +gamma diagonals when/if more favorable skews exist.
Thanks for the update rally...I covered my Aug vix 15 short put the other day as well..small gain at least but I might load up the boat on Sept 12.5 puts (short) I don't think we will see the vix at 10:eek: