You have actually shown that you know even less than I supposed - quite a feat. If anyone else is actually reading this thread please ignore all posts. Yes I am just copying and pasting, you got me, it has nothing to do with two decades of experience as a market maker, and option hedge fund manager. I used to feel bad about taking retail money, but with traders who are so woefully informed it strikes me that you actually deserve to lose. Don't bother replying to me again, you have proven to be not worth the time.
I try to explained every point you raised, yet all you keep doing is writing this generic shit. Good riddance.
LONG 10x JAN 2010 109P at 21.7 SHORT 10x JUL 2008 104P at 1.2 SHORT 10x JUL 2008 99P at 2.5, EXIT at 0.9 +1.6 Oiled looked very strong earlier today, appears to be breaking out of the range, so decided to play conservative and get back in the position. Anyway that may be a mistake/fakeout, price retraced back into range by late afternoon after the official bear market news were blasted everywhere. Opened 104 for a bit more premium, 2 pt below the current range. If it gaps down significantly pass my short strike, i will just close out the entire position per the plan for a small gain. If it breaks up, will continue to take premium to reduce the cost basis.