Maxtodorov

Not sure if money or size is the primary driver for you. I just got the Microsoft Surface Pro 3. I am setting it up for IB and OptionNet... will tell you tomorrow how its working......

I am just wondering if any of you use Skype or other chats during the trading day? I know there is a chat feature that we have on the board, but folks do not seem to be very active on there..... Just wondering what folks use. I am often on Skype.... (maxtodorov).... reach out if you want I will accept request if you mention that you are from SO.....

Thank you for the comments Chris. My trade is slightly different than yours, and I been going closer to the money (on shorts), and rolling up my LONG (now 182 Dec 2014). I am also using it as a volatility hedge for my MIC positions...... Trade was much less profitable than yours, but I like being NET long VEGA in this environment.... I amy even considering making my ratio a bit more defensive for market drop....

Hi Chris, Just wandering if you can elaborate. Do you feel market does not know where it wants to go? Or do you expect a correction? Or Further run up?

post-1-0-96736300-1382914077.png The software pulls the pricing data from your broker. Trades you would have to double enter. As far as how you see the impacts to the position, look at the bottom of the image. It shows greeks at various prices.

I have been using OptionNetExplorer for less then a month. While much of the information can be obtained in TOS Analyze tab, the ability to see impacts to a position from adjustments, as well as being able to see the Greeks of the position at various stock prices, is very cool. I most likely will be signing up for the software.

One of the tools in TWS is spread builder.... try it...

Which tool in IB are you using? I found the spread builder to be the best tool for spread trading. Overall the price in IB is what you enter. Also, its important to know that you can accomplish the same transaction by both selling or buying. Assuming you want to by a spread of XYZ, entering -0.10 would accomplish nothing, as you are asking to sell for credit. In other words you are accepting 10 cents to also get the spread. I enter the price that I am willing to pay. Bottom lime, call IB and ask them to walk you through. They would do that....

I think my personal lesson on this..... I will probably roll my LONG up more often. My long is at 162 and I was about to ROLL it, but did not. Now I am not feeling so good.

Thank you, Chris! I closed the trade for 12.14% gain. (my strikes were slightly different due to timing). I will be entering NOV/AUG tomorrow.

Chris, did you do the above?

I just put in some orders, less aggressive then Chris, but I am in Moscow Airport, trading in a lounge. So I have to put the trades in before I hop the plane. Hopefully will execute.

Yes, but you would more exposed to gamma. (change in underlying impacts option more close to expiration). So if there is a big sudden move a day before expiration, you will get a delta close to .9 or something. The 2 week approach has lower delta.... so any big move is less impact full. As Chris mentioned before, and I agree, until your long is deep in the money the 2 week approach seems less risky. Also, the 2 week approach reduces assignment risk, as its much less likely for someone to exercise the option with a week worth of time value.

I do not think anything is expiring... remember we are using 2 weeks out.. So the shorts still have a week in them.

I am generally bad at trying to predict things. So, I am just going to ride the trade as is. With volatility of GLD, it could drop $7 tomorrow, or rise another $5. I will simply follow the plan.....