Recent content by NineIron

Good advice. Thanx.

So, you buy to close the short position and let the long one expire?

Good point. The last thing I want is to be assigned with such a small account. I'd probably bail at 35. Any thoughts?

Thanx for you input. Adjustment is roll up and out if the delta on the short strike gets to 30-35.

My account is 2200. I'm trading SPY, APPL, IWM, QQQ, DIA, EEM. I use the RSI 2,5,14 to find something overbought or oversold then, set up a bull put or bear call spread accordingly. I choose my strikes based on Percent OTM. If I can get 15-20% with a 80% or better percent OTM then, I'll probably...

Thanx. I've got a ton to learn still. So far, two months, I've made $75 on $2200. Slow and steady......

This is a perfect explanation in plain English. Being a new trader, I haven't become well versed in "trade language". Thanx.

Yikes. 200 contracts? I thought 10 was a lot. I'm doing 2 wide spreads. At most 2 contracts/trade. I wait until the RSI(5) is over 80 or under 20 to put on a Bear Call or Bull Put respectively. Otherwise, I may do an Iron Condor. Also, I only sell the strike that is above 80% probability of...

Thanx for the input. I've made a whopping 3 trades so far. All spreads. That's what I intend to focus on and mostly trading SPY and some other very liquid ETFs. Any advice for a very small account?

I bought it back before the market opened. I paper traded for 6 months but, never really paid much attention to the details. Real money tends to get your attention!

This is real money. Rookie mistake. During the day yesterday, it looked like the SPY was rallying but, by the time I took another peek it was at about 191.10. Now, at 191.02 will I have time to buy back that short strike as soon as the market opens?

Thanx. I'll look into that.

Thanx.