jay

I agree, let's discuss the strategies and leave the names of services out.

I agree hero. One bad bad trade wipes out alot of gains. No offense to anyone, but I don't really like the promotion of other services. Although it's no skin off my back if folks desert SO and go elsewhere. I just find it distracting.

So a 136/134 strangle?

As the time runs out on this straddle, any thoughts on turning it into a RIC?

with the price around 136, perhaps a 136 straddle makes more sense? gets complicated for me because my calendar is at 133, not 135 like most of the rest of you. Any thoughts?

135 straddel is down arount 3.85. Has environment changed significantly or is it a bargain at this price?

As a relatively new member, have been reading the above posts with great interest and they have answered most of my questions about delta neutral positions. One question, however. How close to 0 do you have to be for the position to be considered to be neutral. currently I am at -169. Would you consider that close enough? Thanks in advance

Let's talk exits. As a newbie here, I'm just wondering if you often sell the put and the call separately or do you put in a price to exit the position all at once. Must be more difficult to exit as a pair, I would think

I am experienced trader/investor and a newbie to site. So far I like it. One thing does make me cringe however, and that is that "The Complete Guide to Selling Options" by Cordier and Gross is on the recommended reading list. I invested with these clowns about 8 years ago and lost 23,000 in one day. They may have changed their strategy since but basically they sold large number of OTM puts on futures. In this case it was Live Cattle. Even when the price moved against the position by the amount they recommended you exit, they left the position open. Then mad cow hit, and my entire account was wiped out. They had no risk management that I could see. Yes, I know, it's investor beware and I do take this experience as a painful lesson. Since then, risk management is key for me and thats what I like about this site.