just sold some 96.50 calls for $190 each. not a lot, just a few here and there to offset....haven't gotten out of 87.50s yet....I would like to get through to Monday and see where everything is at.....if I have to, I might buy back 1/2 of them....if ...

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I like the layout of that Cecil.....how often do you see the IV drop to levels you feel comfy at for doing this? when you buy both sides roughly how far away do you figure for a strategy like that? do you ever buy one back or just let it go to exp ...

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I am considering repositioning my strangle possibly buying back the 99s and 100s and writing 95.50s or 96s I do not want the market to continue to go down while I am not offsetting put loss with call premium since they are worth so little. Will have ...

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a $1+ move down in oil has increased my 87.50 puts from around $140 to $260.....calls are practically negligible now all in single digits. puts have my attention this was why last week I shorted that future.....and the bastard went up and I had to ...

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Fool that HP looks like its flying....Im assuming that is good for you.....what do your options look like???

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so are you gonna just sell one side when you see where you think it is going?

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just sold some Jan soybeans 1380 calls for $350 each

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really not ballsy...you may think so......but I will run from a position if it gets me nervous....there are too many options that will expire worthless for me to play chicken with the market

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option values die as expiration comes, so the call you bought today will be worth much less even if the market goes nowhere by expiration day, there will be no time value (theta) left. without a scenario of specifics I think you would just end up ...

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that was a futures trade. on some larger accounts when my option premiums are skewed a touch I might be inclined to throw on a future. don't do it all the time. also don't do it for every account.... its a lot of feel....lot of charting and price ...

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I prefer the naked strangles. As far as the margin goes, usually I use $5-6k as a rule of thumb for the metals, even though it may very well be less than that, you would be doing yourself a favor to not max out just incase you have to adjust. When ...

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im gonna wait till tomorrow to get better spreads. a 1305/1145 strangle pays around $800 per soooooo much margin, but not bad $$$

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if selling so close, again, why not do a future? are you considering taking that to exp?? I only ask because you might consider writing deeper and on both sides as a less stressful option. Just thinking out loud to you here...so not at all trying to ...

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or $52?

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so you bought the 22 put and the 28 call for $520 total right?

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gotcha....I guess it is a hell of a wheeze for sure then haha. now if one of you guys can tell me how to get my health insurance to cost me less than a luxury car lease payment every month, I would really be in business.

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no prob fool....I appreciate what you guys have shared about your gig....I am learning from you and Cecil as well. Like I said, trading gets lonely.

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ahhhh this is the great question.....how far do you sell em...... for me, if I were gonna just go that tight, I would trade futures, which I do sometimes. larger accounts can handle writing 10-50 of a cheap option and waiting for exp. there is great ...

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funny you said that, I have considered going to work for a hedge fund, but I am comfortable where I am at for the time being. it blows my mind sometimes how little some of these "professionals" can return. I think a lot of it is such a scam. lots of ...

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also if you are "concerned" that you would blow up their account.....I would suggest there is some work to do before taking control. I imagine you know this though. I am not sure what "a great wheeze" means exactly.....but a lot of people think that ...

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