diarist

It is very frustrating that it takes 12-24 hours for my posts to appear. I understand the desire to moderate messages from new members, but at ET and other forums the moderation process takes minutes to an hours or so. Every post I have made here has not been posted to the thread until the day after I submitted it.

But if CAT drops to 80, your profit on the long put is 20, but your spread has maxed out at a price of 5 and a profit of 3.27, right?

It has been two years since this thread has seen any action. Does it really deserve to be a sticky thread? Keeping it a sticky means only one genuinely active thread in the options section is viewed on the home page rather than two. Wouldn't it be better to show active threads rather than long-dead sticky threads?

How does a spread reduce risk over a straight long option position? How does a spread increase return, i.e. profit potential over a simple long call or long put?

Why are you trading spreads now? Did you or did you not make money trading long options?

Have you traded options on a straight directional basis? Are you using these trades to take a position based upon you assumptions concerning earnings announcements and the market's subsequent reaction?