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Not unless you are only in at a half position. That’s my opinion.

Great find, @krisbee. I opened NAV 42.5 12/29 calls yesterday for 0.8 debit. Closed right now for 1.4 credit. 75% gain. (Only had 1/8 allocation) I see the backtest has average gains of 200%+ for the 30 delta, but I'll take the conservative route and take the profits now. (Also, looking at the backtest, the most iteration in August had a 59% gain) Not much, if any, profit on the straddle though. Had 4:1 ratio, same as SBatch's setup.

Yes, entered last Tue at 2.42, and exited on Fri at 3.58. Not all of them have been as successful. I was so fascinated by the posts on this thread (thanks to the regulars like Niktam, krisbee, greenspan etc) that I signed up to CML about a month ago and have thus far completed 21 trades on a 'proof of concept' basis to see if there is a possibility of using CML as a strategy. Most trades have been long calls, and in this bull market, that's like having the wind behind you when you're sailing. I realise that 21 is not a large enough sample size, and I would like to get to at least a 100 trades, both pre- and post- earnings, long calls, short put spreads, IC's etc before I formulate a structured plan for trading CML ideas. But so far the results are good - an average gain of 9.6%, which includes me not managing some of the trades as well as I should have done. For me the the benefits of trading CML ideas are: - low maintenance (almost set and forget in some cases) as long as you have stops/limits in place - scalable - very easy to have large contracts sizes as many trades are single leg - low comms - again this due to the single-leg nature, - easier fills - dare I say it, due to the single leg nature; also because the profit/loss levels are much higher (40%), it's OK to pay a little more when buying. - tons of opportunities - a lot of stocks are suitable for these trades, and we often get a double-trip on the ones where there are post-earnings trades too. Negatives : - feels a little like a lottery, or more of a gamble, as opposed to our carefully crafted, well-analysed, patiently bought cals and hedged straddles - need to have a large number of trades on the go, so that the losers will be overcome by the winners So far, I'm thoroughly enjoying the kaleidoscope that is CML, and hope to make this a core part of my portfolio. Happy trading