Saving money with combination orders

If you ever plan to trade more than straight long options you should learn to use combination orders, specifically debit and credit orders. . A combo order allows you to execute multiple trades simultaneously at a single integrated not-to-exceed price.  Some examples: Creating a simple covered call position, buying the underlying equity and selling-to-open calls Creating a call bear option spread, selling the lower strike …

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In and out with the big jump on Wednesday

At 9:51 EDT Wednesday I was setup for a couple days with my purchase at  of SPY at 106.73, long S104  3-Sept puts at .23 and short S107 3-Sept calls at 0.80  for a breakeven of  106.16 and a max profit of  0.84. Twenty minutes later I closed out SPY at 108.11, S104 puts at .08, and bought back my calls at 1.62 for a …

Read moreIn and out with the big jump on Wednesday