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ANOTHER PROFITABLE MONTH ONLY A DAY AWAY

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ANOTHER PROFITABLE MONTH ONLY A DAY AWAY

For those of you who held onto the April 1470/1485 bear call spread, you were fortunate in that today's morning market pullback gave you a chance to exit for about $2 - substantially less than the $3.60 we paid on Monday.

Do I regret the $3.60? Not in the least. The market was giving every indication of continuing up. There was no guarantee or reason to believe we'd get such a pullback. Even with this morning's spike-down, the SPX worked its way back to positive territory - at least for a while.

The bottom line (and good news) is that we are in position to record another profitable month - making it 50 out of 53. We will still endure the Friday morning settlement, but things look just fine for our other three positions.

Some traders got out of the SPX 1470/1485 at substantially more than the $3.60 and took a hit on that position. That could be very painful for traders with relatively small accounts. They're limited to a very small number of contracts or are unable to put on all the suggested trades.

The benefit of having a larger account is that it can provide the diversification of a number of trades to help offset a losing position. Some of our 50 profitable months have been the result of multiple profitable positions combined with one or two losing positions - enough to bring in more than went out.

Use Of Your Maintenance Dollars

Just a reminder that, on expiration Friday, your broker should be releasing your maintenance dollars (on the positions that are safe). Some brokers wait to release the money until after the settlement numbers are released. Other brokers will release the funds earlier in the day if your short strike prices are at least 20 points away from where the index is trading.

For those of you who have OEX positions, those funds won't be available early because the OEX is an American style option and expires at the close on Friday.

Here are the settlement number symbols:
S&P 500: $SET
RUT: $RLS
MID: $MIV

Google Siamese Condor
Google came out with some decent earnings and, after hours, is trading at about 485-486. That's only about 15 points over Thursday's 471 close. Typically, there is a much larger reaction to Google numbers. Those of you who took a chance and put on the Google Siamese Condor still have a chance that the market will bring Google's price back down in the mid 470s - and possibly close with a nice profit.

Remember, the risk was $1.80. So, you profit at any Friday close below 478.20. I could happen. The closer it finishes to 470, the more you will make. We knew when we suggested the trade that earnings were coming out after the bell today and the risk involved.

On Our Way To DC
Lydia and I are packing our bags, our whole wheat bread and low sodium soy sauce -- because tomorrow we're on our way to our CPTI seminar this weekend. We had an excellent response and look forward to a stimulating and fun weekend.

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ONLY 3 SPOTS LEFT FOR LAS VEGAS CPTI SEMINAR
There are only three spots remaining. Las Vegas will likely sell out soon. Don't be left out. Reserve your spot for the Las Vegas June 2nd & 3rd seminar today!

Join the family of over 300 traders who have attended my two-day advanced seminar 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 APRIL CPTI PORTFOLIO POSITIONS
CPTI April Position #1 - RUT - Iron Condor - 819.32
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 - 673.99

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 - 871.92

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.

CPTI April Position #4 - SPX - Iron Condor - 1470.73

We sold 12 April SPX 1315 puts and bought 12 April SPX 1300 puts for a credit of $.65. Then we sold 12 April SPX 1470 calls and bought 12 April SPX 1485 calls for a credit of $.65. Our net credit and profit potential is $1.30 ($1,560). Our total maintenance is $18,000.

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CURRENT MAY CPTI PORTFOLIO POSITIONS
CPTI May Position #1 - SPX - Iron Condor - 1452.85

On 3/28, with the SPX at about 1419, we sold 12 May SPX 1300 puts and bought 12 May SPX 1285 puts for a credit of $.70. Then we sold 12 May SPX 1505 calls and bought 12 May SPX 1520 calls for a credit of $.70. Our net credit and profit potential is $1.40 ($1,680). Our maximum profit range is 1300 to 1505. Our total maintenance is $18,000.

CPTI May Position #2 - RUT - Iron Condor - 819.32

We sold 20 May RUT 710 puts and bought 20 May RUT 700 puts for a credit of $.45 ($900). Then, we sold 20 May RUT 870 calls and bought 20 May 880 calls for a credit of $.60 ($1,200). Our potential profit is $2,100. Maintenance is $20,000.

CPTI May Position #3 - OEX - Bull Put Spread - 673.99

We sold 20 May OEX 615 puts and bought 20 May OEX 605 puts for a credit of $.45 ($900). Our potential profit is $900. Maintenance is $20,000.

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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 - SPX Iron Condor - 1470.73

We sold 12 April SPX 1315 puts and bought 12 April SPX 1300 puts for a credit of $.65. Then we sold 18 April SPX 1470 calls and bought 18 April SPX 1485 calls for a credit of $.65. Our net credit and profit potential is $1.30 ($2,340). Our total maintenance is $27,000.

Closed out the Zero plus position this morning (Thursday) for $2.10. We had taken in $1.30, so we had a loss of $80 per contract (x 18 = $1,440).

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CPTI SEMINAR SCHEDULE!
Las Vegas, NV - June 2 & 3

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

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 to 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, 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. You'll have a two-day experience that you'll remember, and profit from, for a lifetime. I limit our CPTI seminars to ONLY 25 ATTENDEES. And, as a bonus, if you attend one of my CPTI seminars, you are entitled to RETAKE the seminar a SECOND TIME at NO CHARGE!

49 OUT OF 52 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. 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?

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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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