coachcr

Thanks, Kim.

Kim, are you considering exiting this trade? Or at least rolling it out since we are back to BE?

Thanks for the comments, Marco. That's exactly what I was debating. Had too many trades lately based on hope and wanted a more experienced evaluations of whether there was an adjustment needed, just hold on for vol spike or just take the pain and get out now. Sounds like you think we have a little time to wait, so I'll hold on (fingers crossed )

If the VIX doesn't jump up soon, we're going to be hurting on this trade. Is there an adjustment that we can make to improve it? Would opening a second calendar help? Thx

Kim, I noticed the last several trades weren't logged. How often do you update the performance page?

Got filled on the Apr/Feb 18 Put calendar for 0.40 credit around lunch time today.

It's absurd that our government has put our country in this situation. The market is hanging on every word of the politicians. Yes, I agree price is high now for a strangle. Obama is going on "meet the press" Sunday to continue to press the republicans into caving. Monday should be pretty crazy, but my guess it that the deal doesn't get done until after trading hours Monday and market will rally on Wednesday (but who that heck knows). Guess we'll wait and see how this all pans out (this reminds me of the reason why I was interest to join this site - non-directional trading! Let's all hope for the long-term best for us and our country

Marco, It appears that the VIX may be hitting an intermediate resistance, but my main concern is what comes out of the fiscal cliff. Although, the actual spending cliff sounds like is actually in March, the tax implications start in Jan 1. When people start seeing less money in their pockets, I think spending will tighten which will pull the plug on stocks. What do you think about a strangle -too expensive?

I tried selling some puts. TOS allowed me to place the order, then after about a minute, it cancelled my order with a message "REJECTED: Series Doesn't Exist (broken option)". I guess it was too good to be true

Looks like the ETF trades in a fairly tight range.

My screen shows 40.87 IV for the Jan. Is this an opportunity for a calendar - sell the Jan against March (11.21% IV)? Or is there another strategy to better take advantage of the situation?

I agree and am participating in the calendars myself. I'm just saying that position sizing keeps you out of colossal trouble in the case that mks212 was concerned - large unpredictable moves, such as flash crashes.

Maximum risk is known at the time of trade entry - the debit. Position sizing is the key to surviving long term.

Kinda like insider trading being legal for congress .... but we would see jail time for such activity!

Life's lessons ... another great example of why position sizing is so important. Hopefully, this one won't hurt so bad.