fuzzballl 12:33 pm on Thursday, April 20, 2017
Tags: ShortStrangles ( 716 )

IBB adjustment

#ShortStrangles – Rolled this week’s 295 put out to May monthly @ 3.00 credit. Sold against a 300 call…

Position now 295/300 strangle @ 8.65

jsd501 12:37 pm on Thursday, April 20, 2017

You do have some interesting trades to keep track of.
- fuzzballl 12:45 pm on Thursday, April 20, 2017
  
  A lot of it is a TT segment I saw quite awhile ago about greater number of contracts further OTM vs less contracts closer to the money.
  
  Long story short…if you have a huge account then more contracts further out. If your account is smaller then closer to the money with less contracts is better bang for your buck. I’ve been selling smaller and closer to the money trying to maximize cash inflow while never having more than 25 percent of my account in at anytime. Goal is 75-100 percent on margin used while having no worries whatsoever of any big market moves…and a ton of dry powder when the time comes.
  
  That’s the method to my madness…FWIW
  - jsd501 12:53 pm on Thursday, April 20, 2017
    
    I am sitting on a lot of cash since the election waiting for that correction. I may take one for the team tomorrow to get a down move on Monday.
fibwizard 1:29 pm on Thursday, April 20, 2017

I can see Fuzzy watching his Tablet in one Hand, and flying the plane with the other…
- fuzzballl 1:31 pm on Thursday, April 20, 2017
  
  LMAO…that’s the beauty of it. Nothing much to watch. I found it nearly impossible to swing a golf club and drink beer while monitoring the market.
  
  🙂 🙂
  - fibwizard 1:35 pm on Thursday, April 20, 2017
    
    agreed..I still have a few spreads..just to stay in practice on my options strategy…gives me a reason to to still make spx charts for people I guess…My real love now is the futures side..I guess I am doing okay with it..makeing more profits than I ever have in trading before…didnt think I’d be a good daytrader..but I am holding up okay..and its actually fun..averaging around 3K a week so far…
    - fuzzballl 1:42 pm on Thursday, April 20, 2017
      
      Excellent! I’d love to be able to do that too at some point. Thanks for the posts…I read ’em all!
      - fibwizard 1:43 pm on Thursday, April 20, 2017
        
        if your ever in Dallas, give me a heads up..I’ll buy you dinner somewhere..
        
        fuzzballl 1:44 pm on Thursday, April 20, 2017
        
        Sounds good…thx