Hello! Well, the first thing I'd like to do is reference you to an absolute treasure and one of the best threads to exist on ET "SPX Credit Spread Trader". http://www.elitetrader.com/vb/showthread.php?s=&threadid=49586 If you are new to option spreads there is a wealth of information shared over 2 years about managing option spreads. If you have TOS, IB, or other software where you can see historical data back to 2005, it's a gem because you can actually follow along all their trades as if in 'real time'. You can input the trades in TOS thinkback and digest the criteria they were using (rationale, market forecast ,credits/debits, etc.) I spent the last couple weeks reading all 346 pages of the thread. The first year and a half are great, where the great optioncoach provided insight into his own methodology and other trader's provided input. They covered everything from options, Jessica Alba, foreign languages/living abroad, you name it. I'd just like to thank: Optioncoach, momoneythansens, rdemyan, piccon, maverick74, riskarb, richardrimes, sailing, dagnyt, cache landing, rallymode, ryank, and the others for all their contributions from 2-4 years ago!!!! It's funny being able to look back in time, when they started the journal I just finished high school and was goofing off for the summer. Now I'm trying to take what they did and move it forward a couple years!! I would also like to thank 'huh' for pointing me to that thread and for starting the only current live option journal! Anyhow, to me. Well I'm 22, in college, Finance major, wannabe a trader, act like a rockstar, LOL. What I plan to do here is paper trade (ahhh shuxxx, where's the real cash at???) verticals, calendars, diagonals, etc. on indexes/etfs. I wouldn't put real cash behind this right now because, well, I don't know jack. I still need to understand and speak greek/volatility fluently, for one. I just have ideas on different P/L risk profiles, but I have to add more than that to my arsenal. In combination with TOS/IB, I plan to keep a good reference for my trade ideas and be able to look back and see if my judgment was sound. If I am consistent with my updates, hopefully other options traders will chime in with their opinion. First trade will come soon, I have a finance summer course final on Wednesday.