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DEC SPY 108 Straddle Update for Oct 27, 2009

[gallery link="file"]SPY closed at 106.42
Current position is -$64 or -8.05%

Option Traders, the market did not give us what we wanted out of this position.

DEC SPY 108 Straddle Update for Oct 26, 2009

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SPY closed at $106.91 -$1.17
Current position is -$62.5 or -7.86%

Option Traders, things are starting to look a little better as the market is staring to move our way.

Option Traders, I'm Back!

Well option traders, I hope you guys missed me. I had a wonderful time in Bimini, Bahamas. I would suggest it to anyone who does like nature and wants to avoid crowds.

DEC SPY 108 Straddle Update for Oct 23, 2009

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SPY closed at $108.08 -$1.25
Current position is -$65 or -8.18%

So we're right back at the short strike.

DEC SPY 108 Straddle Update for Oct 22, 2009

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SPY closed at $109.33 +$1.10

Volatility came down slightly which offset the gains from price movement. The position is down -$65 now.

DEC SPY 108 Straddle Update for Oct 21, 2009

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SPY closed today at 108.23 -0.98

In this type of trade, the absolute worst place to be is at the short strike. Theta is working hardest against you here.

How Market Makers buy UNITS to stay in business

DEC SPY 108 Straddle update for Oct 20, 2009

SPY closed today at $109.21 -$0.58
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Looks like the position is now down $45 and is in the "sea of death". Mark really needs a volatility pop and/or big price move soon.

SPY Straddle Update for Oct 19, 2009

Hi traders!

SPY Straddle Test and Final IBM Report, We are on Twitter!

Option Traders, I will be going out of town for a week. I will be heading out to the Bahamas.

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