I certainly agree, the last week and a half or so has been a real disappointment. It's one of those periods when I wish I wrote strangles or something. I just liquidated my own rapidly decaying options Thursday afternoon to avoid Friday's pricing in of the weekend's theta. However, my position in the aggregate was down by only 25% (only?). It was distinctly worth it to me to admit that my timing was off, pick up the pieces, and plan the next trade(s). If you need to save money, I'd get out now--that is, by Friday morning. But if you're planning on holding until Tuesday, just a couple days before expiration, then you pretty much have to be right, or that's it for this trade. Oscar Carboni was pointing out the cup and handle formation in the S&P right now, and he feels a strong breakout ultimately leading up to1100 is imminent, but with options, your timing has to be just right. By the way, great taste in user names. I play and love Scriabin's opus 23 myself.