Stephen

Thanks Xfanman!

In my humble opinion you need to read, read, read! One of the books Kim has mentioned is "option volatility and pricing" by Natenburg is an excellent reference source to keep by your side.

Thanks for advice Chris........did not see the MCD thread. Cheers.

Thanks! Smasterlee are your strikes 92.5? Will you roll again too the same strikes?

If anybody can answer question regarding Calenders. How would you adjust a trade when the short option (weekly) a few days before expiration or Wednesday the day before the next weeklies come out is approaching close to zero in value but your long position obviously still has value. For example I did a MCD calender in which the long is worth now .99 and the short is worth only .05. The dilemma then is if the underlying is moving down you are not gaining anything with the short as it approaches zero but are losing value on the long. Thanks.

Kim if you are going to start the calendar slightly delta positive what side of the calender should be delta positive? Thanks

DERSIDC- What is your trade entry?

Hi Chris, Thanks for sharing this trade! Question: I did a quick Profit and loss chart on this trade and the graph based on your Long July 560 and short the May 19 560 break-even points are 522.68 and 568.23. Is this correct? "However, even with a 20pt jump up, I can still expect to be getting close to $2.00 per week." How does that then work out if the trade is at a loss at 568.23 approx. Thanks.