LOL, it's an understatement to say that I'm flattered you put me in the same company as "Big Brains" Riskarb and "Haircut" Maverick as well as the others...especially since those guys have decades of experience and I have been at it for less time than you and Donna LOL. Anyway, I agree with you about the writing options for a living thread. The main point is, there really is nothing new under the sun and there is a wealth of information already in the archives on ET. Very little comes up these days that hasn't already been discussed in the past at least twice! The SPX credit spread thread is a good example of that. Important to remember when reading some of the older posts that people have changed their opinions over time...not naming any names! But this is natural. Evolution. Trying to take a break myself but will still check in, now and then. Prosperous trading to all.
I'm on vacation so my post will will not be frequent for about a month. 02/23/06 Sold BRMC straddle Mar $45 for $3.20 Bought GM 22.5P back for lost around $80. If GM does not move down much, will sell GM 20P and leave only 22.5/20 call spread. Sold TSO 65C $1.75. This is a sell against my 100 shares I had for long term investment and won't be in profit/loss count. Bought AAPL 80 call back for $0.40 (sold for $0.55). I expected AAPL to go up a bit more near and want to sell 75 call instead.
I have a lot to catch up to post here especially some trade where I made in Thailand. Here is the trade I made so far this week Sell April SPY 127 put .60 Sell April AMD 32.5/30 put .65 Sell April SPY 128 put .45 Sell April AAPL 70 call .60 Sell April SPX 1335/1345 Call $0.95 Sell April SPX 1330/1335 Call $0.80 Sell April GM 22.5/25 call $0.75 Sell April TSO 75/70 call $1.35
Bought +1 BUTTERFLY XSP 100 MAY 06 131/130/128 PUT @-.10 CBOE, XSP MARK 130.33 This butterfly was bought for a credit. If XSP > 131, I'd make $10. The max profit happend when XSP = 130 for $110, max loss $90 happend when XSP close <= 128.
You want to start selling commodity options. There is a thread on here where the guy went from $3000 to $22,000 in six months. http://elitetrader.com/vb/showthread.php?s=&threadid=66222&highlight=morgan+stanley
I read the trade. I probably won't sell naked but it is an interesting strategy. One thing I am no so sure since I've never trade commodity. If I put $3000 in my commodity account, would my max loss be limit to $3000 ? Can trading firm require me to put more money in ? Thanks,
SOLD -1 VERTICAL SPX 100 APR 06 1260/1250 PUT @.35 CBOE, SPX MARK 1306.56. The mid was around $0.50. The xsp 126/125 put itself had b/a 0/.10. This one complement 1335/1345 call I sold previously on 3/29