i would expect, on an FOMC day, that a 1%+ move in the S&P would be reversed the next day. so there's time to get the market back in rally mode. but then again, maybe this time is different....

I've been trying to sell feb 29 puts for a week, but stock kept bouncing around and i couldn't get my level. might have to re-examine this idea with 28's. thanks for the heads up.

I like that thinking, however my rule is to await earnings (why step in front of that unknown) so I'm waiting for the post report move to decide when/where to establish a short put position. last position got assigned in December, sold covered calls against it and 'lost' them this month.

in an attempt to dazzle the markets the rate hike was 2x what was was 'expected'. however (isn't there always), they changed the benchmark they were using. consequently the hike was a disappointment.

glad i didn't sell any of those puppies...

finally getting some decent premium on put sales. looking for 'turn-around-tuesday' for that pop. still looking to see 1770 sooner rather than later for this leg down. then following the BPT scenario for H&S into Feb expiry (at least that is my prefered timing).

survup, thanks for the update, i won't be betting the ranch on the analog as it's only 97% correlated as of today, although the last 30 odd trading days it has fallen to ~73%. analogs are 'fun' to watch, just one more caution sign in this frothy market. I'm hoping for more volatility (as we all are I'm sure). Historically i've like his gold calls, so i'd be happy to see that happen. bottom line, like you I'm doing far better here with BPT (live) following charts than i would be had i hidden behind analogs and doomsayers prognostications. good trading.

in the fwiw department, today marks the day that McClellan forecasts as the high for 2014. To follow his 1928-1929 analog, we need a waterfall type decline to 3/31/14. watchful waiting, good trading, but fasten those seatbelts.

Steve thanks for all the effort. Maple_leaf, thanks for the pdfs (all 56 pages of them).

good trading.

Haz

Matt, thanks for the post, I was watching this one yesterday so I sold Feb 21 puts.

FWIW, I am long via assigned puts last month (original exposure taken when identified by BPT), just sold Jan 2015 7.5 strike  covered calls. stand-still ROR is in excess of 60% if i get taken out.   , if not, I'm 'stuck' with a 7.75% ROR.

Thanks Steve, as noted previously without this BPT forum, I never would have identified it. much appreciated. fyi - you guys are stuck with me for a long time.....  

still waiting for that bell at the top (although i have the 'mute' button on so that could be an issue). However, $10 might get me to take some profits while i'm waiting.  

for today i sold some MLNX feb 32 puts @ $0.70; data: 12 month low 32.32. earnings end of january (hopefully they will have some) short interest 17% vs a p/e that is clearly too high, but we are technical traders here.... .i'm 18% otm (out of the money) and my standstill ROR is 17%. while below the 200 dma, it is currently just above the 100 and 50 day.  lots of support around that 32 level going back well into 2011. i'm buckled up. Haz

historically (as in decades) i was always a buyer of options, call and puts. finally i realized (~2 years ago) that, like Vegas, the house usually wins, today i'm a seller of options, primarily puts and some covered calls (my strategy is very pedestrian, nothing fancy). BPT (including this blog) helps provide both the individual stock, sector and market ideas along with the technicals. this gives me a relatively low risk portfolio profile for a respectable return (i'll take my 2013 low double digits despite the ~30% spx return). good trading, Haz

I'm still hanging on, just past 9 months later +~180%, and that's an awful lot of subscription years it is going to be paying for . someday I may have to sell it, but in the meantime, Thanks BPT for another great idea, and happy new year to all and good trading in 2014!. Haz 

are what is found here. my rule of thumb is that if a website or subscription doesn't pay its way in the first year of use, then it's history. I'm a 3+ yr veteran of BPT, and found just 1 trade idea (from BPT or from the community) annually is enough to pay for my annual subscription. Unfortunately i doubt i will live long enough to 'spend on subscriptions' the knowledge i have gained or the returns from trade ideas that i have gotten from BPT. Keep 'em coming boys (and girls). I trade far better with BPT in my corner. good trading all (happy holidays and happy new year too).

it is my understanding that in year 2 of this cycle (2014), the norm is an average of a ~ 20% correction during the calendar year (at which time a great buying opportunity presents itself).  An article in Barrons this weekend focusing on Ned Davis noted this stat. good trading

for those following along, i was assigned this weekend @ $21, sold out @ 21.01 this am. realized my return objectives, paid for another BPT subscription.  . on to then next idea.