DC8 Driver

can u not go long a call and buy the call CAL tanker? would that not b bullish? Is that not what I did with AAWW? When did I ever say I shorted a call? the only reference to that I made was my example of the Iron Condor stratigy I use where I short a call, short a put, go long a call and go long a put and have 4 options on one stock

DC8 Driver

I think I might have confused u when I used the term "wright" I should have said bought or long, u r not wrighting a call, I c where u r getting confused now after rereading the post.....so to clarify my stratigy, I was long in the money calls expecting the stock to rally...also, I don't think u r understanding the fact that like PW03 was saying, I'm not simply buying and shorting calls and puts here, I'm running credit spread options which r a tad bit more complex.

CALTanker

You didn't confuse me. You said you "wrote" the calls (I even highlighted the quote in my original post). This is not a simple mistake. It can be rather expensive. Either you write them (wrote is past tense for write), or you buy them. Period, end of rationalization. For the guy who questioned whether it was a bullish or bearish move, study for the series 7 and or 4 and this will require you answer several questions regarding this trade strategy. A credit or debit spread is really quite simple. The only way to get it as a credit is by staggering the strike for the delta or the month for theta. I'm not bashing here. Just trying to help educate. I won't go into my credentials. Suffice it to say I have an ATP. I wish you frequent tailwinds and to be on the favorable side of the trade. Over and out.

DC8 Driver

And I wish u the same my friend...I was typing fast and used the word "wright" instead of "buy" my mistake....and yes, if u executed the trade that way u r right, that would b a disasterous mistake....If u go back and read my previous posts, u will c one of the first things i said was that I was not a good teacher and not the best at explaining this stuff...I actually admit I kind of suck when it comes to explaining things...but, in the same way that I can't out of memory rattle off the FAR AIM with all the correct terminology doesn't mean that I can't strap into my 747 and fly to HKG safely and collect a nice paycheck at the end of the month..a pilot might not b cut out to b a check airmain but can at the same time b a verry tallented line captain.well, trading for me is the same for me, alot of what I do comes from learning what works and doesn't work by losing money in the real world..making mistakes and learning what I have to do not to make them again...alot of it I can't explaine like I'm a Harvard biz grad...but, I do make a ton of cash doing this and I know what works and what doesn't work. I appreciate your post and your clarification on the terminology and wish u the same tailwinds.