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HOW ABOUT A QUICKIE IN THE WOODS?

HAVING TROUBLE PRINTING?
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Are we out of the woods, yet? Hell no. We didn't even want to go camping, but we're still up the creek - with only one paddle at the moment. But, one paddle is better than being without a canoe and up to our neck in . . .

A couple of positive days have given us a little breathing room, but it's far from over. We're still hanging on - at least for the time being. We have to sweat out five more trading days plus the Friday morning settlement to escape the March cycle unscathed. What are the chances? Reasonable.

Tomorrow's "jobs" number could either increase our safety cushion or possibly reverse the rebound and send us down to test the lows of last week. Many pundits expect those lows to be tested sooner or later. I'll take "later," thank you.

Tomorrow morning Lydia and I are off to Dallas to meet 25 inquiring minds. The environment will be great for learning and the temperature will be about 40 degrees warmer than it is here in the Detroit area.

While we're waiting in the woods for this chaos to sort itself out, let's check out a few quickie trades that might be fun for those with the skill, the cojones, and the money. The VIX is at 14.29 - down from over 20 a few days ago, but substantially higher than we've had in previous months. What it means is a little more flexibility (and safety) in putting on trades plus a little more available premium.

Now, remember that our quickies are typically non-directional in nature. These strategies are ideal for non-trending markets. We've been successful with our quickies the last two cycles, bringing in a nice chunk of change. However, the current uncertainty just adds to the risk of using similar strategies in such a volatile environment. I, personally, do not trade these quickies, however tempting.

So let's see what we can come up with for the March cycle - and then hold our breath.



March Quickie #1 - RUT Iron Condor: With the RUT at 781.14, let's:
Sell 20 March RUT 750 puts - RUTOJ
Buy 20 March RUT 740 puts - RUTOH
Credit of about $.55 ($1,100)

Sell 20 March RUT 810 calls - RUZCB
Buy 20 March RUT 820 calls - RUZCD
Credit of about $.65 ($1,300)

Total net credit and profit potential of $1.20 ($2,400). Maximum profit range is 750 to 810. Necessary maintenance is $20,000.

March Quickie #2 - SPX Iron Condor: With the SPX at 1401.89, let's:
Sell 15 March SPX 1360 puts - SXYOL
Buy 15 March SPX 1345 puts - SXYOI
Credit of about $.75 ($1,125)

Sell 15 March SPX 1430 calls - SXZCF
Buy 15 March SPX 1445 calls - SXZCI
Credit of about $1.20 ($1,800)

Total net credit and profit potential of $1.95 ($2,925). Maximum profit range is 1360 to 1430. Necessary maintenance is $22,500.

I know these premiums look tempting, but don't be lured in by the little greedy voice on your shoulder. That little voice will tease you. This is risky stuff. If you don't have a realistic plan on how and when to close the position, if necessary, stay out.

Always double check the option symbols before placing the trade and make sure you aren't doing this with your rent money - because you ain't coming to live with me!! Remember, you can put your toe in the water, if you absolutely must. Just because I post a 20-contract trade, it doesn't mean you have to trade 20 contracts. I won't be offering any guidance on these trades, so you're on your own.

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VEGAS, HERE WE COME!!
My new June Vegas two-day advanced seminar is filling up fast. Traders are taking advantage of the $100 early-bird special and signing up two and three at a time. Dallas and Washington sold out. Las Vegas will likely follow suit. Don't be left out. Reserve your spot for the Las Vegas June 2nd & 3rd seminar today!

Join the family of nearly 300 traders who have attended my two-day advanced seminars and left with the knowledge and skills that can make the difference between occasional success and consistent success.

Sorry, there are no more retake spots remaining for the Las Vegas seminar.

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CURRENT MARCH CPTI PORTFOLIO POSITIONS
CPTI March Position #1 - RUT - Iron Condor - 775.44
We sold 20 March RUT 700 puts and bought 20 March RUT 690 puts for a credit of $.65 ($1,300). Then, on 1/25, we sold 20 March RUT 850 calls and bought 20 RUT 860 calls for a net credit of $.45 ($900). Our net credit and profit potential is $1.10 ($2,200).

CPTI March Position #2 - OEX - Bull Put Spread - 635.28

We sold 20 March OEX 620 puts and bought 20 March 610 puts for a credit of $.45 ($900). Maintenance is $20,000. We'll keep watch for an appropriate bear call spread to complete our potential Iron Condor.

CPTI March Position #3 - SPX - Iron Condor - 1387.17

We sold 12 March SPX 1335 puts and bought 12 March 1320 puts for a credit of $.65 ($780). Then we sold 10 March 1490 calls and bought 10 March 1505 calls for a credit of $.80 ($800). Total net credit is $1,580. Maintenance is $18,000 - IF you have the right broker.

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CURRENT APRIL CPTI PORTFOLIO POSITIONS
CPTI April Position #1 - RUT - Iron Condor - 775.44
We sold 20 April RUT 720 puts and bought 20 April RUT 710 puts for a credit of $.45 ($900). Then, we sold 20 April RUT 870 calls and bought 20 April 880 calls for a credit of $.50 ($1,000). Our potential profit is $1,900. Maintenance is $20,000 - IF you have the right broker.

CPTI April Position #2 - OEX - Bull Put Spread - 635.28

We sold 20 April OEX 630 puts and bought 20 April OEX 620 puts for a credit of $.45 ($900). Our potential profit is $900. Maintenance is $20,000.

CPTI April Position #3 - MID - Iron Condor - 823.69

We sold 20 April MID 800 puts and bought 20 April MID 790 puts for a credit of $.55 ($1,100). Then, we sold 20 April MID 900 calls and bought 20 April MID 910 calls and were filled at $.65 ($1,300). Our maximum profit range is 800 to 900. Maintenance is $20,000. Our potential profit is now $2,400. It will be great if this one works out.

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ONGOING STRATEGY - THE ZERO-PLUS Strategy
In the past, I outlined a strategy based on an initial investment of $100,000. At that time, $74,000 was spent on zero coupon bonds maturing in about seven years at a value of $100,000. The principal $100,000 investment is guaranteed. We're trading the remaining $26,000 to generate a "risk free" return on the original investment. We are not compounding our profits by dramatically increasing the number of contracts we trade. We have now generated $52,425 ($51,050 $1,375).

ZERO PLUS POSITION -

Our February RUT bull put spread expired 100% worthless. We pocketed $1,375. I'll be looking for an April position and announce it in the near future.

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CPTI SEMINAR SCHEDULE!
Dallas, TX - March 10 & 11 - SOLD OUT!!

Washington, DC - April 21 & 22 - SOLD OUT!!

Las Vegas, NV - June 2 & 3

Take your trading from a "hobby" to a potentially profitable "business." You need the information you'll learn at my CPTI seminar. You'll learn more than the "how to's" of trading our strategies. You'll learn a new lifestyle - one that can last a lifetime.

DO YOU HAVE PROFIT-ABILITY?
It's always a challenge (and a pleasure) for me when I have a roomful of bright people who have a passion for, and are excited about, learning. We go over everything imaginable - from the non-directional strategies to the psychology of trading. We cover a lot more than the mechanics. Inquiring minds want to know the whens and the whys -- not just the hows. That way, they're prepared for the best (and the worst) - and know the best way to handle either situation. Contact me and I'll personally call you with all the details.

If you're a SERIOUS options trader, and you want to learn the nuances of our advanced non-directional trading strategies and hone your trading skills, contact me ASAP at mparnos@optioninvestor.com. Send me your phone number. I'll call you with all the pertinent information. The price is a bargain - ONLY $995.00 -- less than the profit from one Iron Condor trade -- and you'll have a two-day experience that you'll remember, and profit from, for a lifetime. Our CPTI seminars are limited to ONLY 25 ATTENDEES. Remember, if you attend one of my CPTI seminars, you are entitled to RETAKE the seminar a SECOND TIME at NO CHARGE!

48 OUT OF 51 PROFITABLE MONTHS!!
WANT TO ACHIEVE SUCCESS WITHOUT STRESS?
OF COURSE YOU DO!!
USE OUR CPTI WEALTH-BUILDING TECHNIQUES!

You should definitely attend one of my seminars, if you can. With what you learn, you'll see a substantial increase in your trading results. Contact me at: mparnos@optioninvestor.com. If you've already signed up, I'll see you there. If you haven't signed up, what are you waiting for?

Note to the hundreds of former CPTI seminar graduates: There are no free retake spots remaining for Dallas or for Washington, DC. He who hesitates . . . is SOL.

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HAPPY TRADING!
Remember the CPTI credo: Our remote batteries and self-discipline should last forever, but mierde happens. Be prepared! In trading, as in life, it's not the cards we're dealt. It's how we play them.
MIKE PARNOS, Your Options Therapist and CPTI Master Strategist

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Couch Potato Trading Institute Disclaimer
All results reported in this section are hypothetical. While the numbers represented here may have been achieved or beaten by our readers, we make no representation that any individual investor achieved these exact results. The tracking for the plays listed in this section uses closing prices for the day the newsletter is published and it is not meant to imply that any reader actually received those prices (though many often do) or participated in these recommendations (even though many do). The portfolio represented here is hypothetical and for investment education purposes only. It is only an illustration of what type of gains a knowledgeable trader might receive utilizing these strategies. If you don't get close to these results, guess what. It isn't the fault of the strategies.



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