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NEW SEMINAR DATE ANNOUNCED!

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NEW SEMINAR DATE ANNOUNCED!

It's been awhile since my sold-out Las Vegas seminar (June 2 & 3). It's been an eventful summer - and continues to be. Let's add another event. I've had a number of requests about the next seminar. I just completed arrangements for our next seminar - scheduled on September 22nd & 23rd (Saturday & Sunday) in beautiful Charlotte, North Carolina. We haven't held a seminar in Charlotte before. It's going to be both fun and enlightening. I even found us a hotel that includes a full breakfast each day - and free internet. Hey, it doesn't get any better than that.

I add new topics to every seminar -- from trading tips, to strategies trading philosophies. Contact me at today for more details and to make your reservation.

Also, once again, I'll be offering the $100 early-bird discount for those who complete their reservation for the Charlotte seminar by August 15th. Join our family of over 300 traders who have attended my two-day advanced seminars and emerged with the knowledge and skills that can make the difference between occasional success and consistent success.

There are five "retake" spots available for the Charlotte seminar. These retake spots are free for those who have paid for attending one of my previous seminars and who want to retake the seminar a second time. They're reserved on a first come first serve basis. These spots go quickly.

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July CPTI Positions
In spite of the fact that this market seems to be in a relentless uptrend, our July positions are in excellent shape with less than a week to go. Below is an overview of the status of each position.

Position #1 - Our first SPX Iron Condor (1400/1385 & 1625/1640) has a comfortable 152.50 cushion on the put side and a respectable 72.50 cushion on the topside. There shouldn't be a problem, even if the market continues up.

Position #2 - SPX Iron Condor number two (1440/1425 & 1625/1640) has the same 72.50 cushion to the topside and a 112.50 cushion on the put side. I don't anticipate any problems here either.

Position #3 - Our RUT Iron Condor (770/760 & 900/910) is also in quite good shape. We have about a 45 point cushion on the call side and a 85 point cushion on the put side. The call side should be safe, but we'll keep an eye on it, just in case.

There are Couch Potatoes out there who weren't successful in putting on both sides of the above three trades in July. If you didn't complete the Iron Condor and are sitting with only one credit spread, consider closing the position early for a nickel. It will free up maintenance dollars for other uses. I'm still going to be on the lookout for another August position or two. The VIX is still above 15 and there is likely to be some premium left out there. If there happens to be a big down day (which would be nice), the VIX would spike and the available premiums will get even better.

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Quickie Talk
It's always interesting to hear about what short-term positions are actually taken by our quickie traders. This is the first month I included a few butterfly possibilities (on the IWM) and, from the emails I received, they were received very well.

Some folks just put on the call butterfly, some the put butterfly, while others put on both. The low risk aspect of the butterfly trades make them particularly appealing - especially to those with smaller accounts.

We'll watch closely to see how the suggested butterflies work out. If we show profits, we'll start to include them in the quickie trades next month. As a matter of fact, we may also use the weekly options to establish similar positions. The problem we've always faced with the weekly options is that there is a limited number of strike prices available. Sometimes they fit well with what we're doing, sometimes not.

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CURRENT JULY CPTI PORTFOLIO POSITIONS

CPTI July Position #1 - SPX - Iron Condor - 1552.50

On 5/30, we sold 15 July SPX 1400 puts and bought 15 July SPX 1385 puts for a credit of $.70 ($1,050). On 6/4 we put on the bear call spread to complete our Iron Condor. We sold 15 July SPX 1625 calls and bought 15 July SPX 1640 calls for a credit of $.70 ($1,050). Our net credit and profit potential is $2,100. Our maintenance is still $22,500.

CPTI July Position #2 - SPX - Iron Condor - 1552.50

On 6/4, with the SPX at about 1536, we sold 12 July SPX 1440 puts and bought 12 July SPX 1425 puts for a credit of $.70. Then we sold 12 July 1625 calls and bought 12 July 1640 calls for a credit of $.70. The total net credit of $1.40 and profit potential is $1,680. Maintenance requirement is $18,000.

CPTI July Position #3 - RUT - Iron Condor - 855.77
On 6/21, with the RUT at 839.81, we sold 20 July RUT 770 puts and then bought 20 July RUT 760 puts for a credit of $.55 ($1,100). Then we sold 20 July RUT 900 calls and bought 20 July RUT 910 calls for a credit of about $.40 ($800). Total net credit and profit potential of about $.95 ($1,900). We have a 130-point maximum profit range- from 770 to 900. Our maintenance is $20,000.

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CURRENT AUGUST CPTI PORTFOLIO POSITIONS
CPTI August Position #1 - RUT - Bull Put Spread - 855.77

On 6/29, with the RUT at 844, we sold 20 August RUT 740 puts and then bought 20 August RUT 730 puts for a credit of $.45 ($900). Total net credit and profit potential of about $.45 ($900). Our maintenance is $20,000. We'll look for opportunities to complete our Iron Condor if/when the market pops up.

CPTI August Position #2 - SPX - Iron Condor - 1552.50
On 7/3, with the SPX at about 1524.50, we sold 12 August SPX 1400 puts and bought 12 August SPX 1385 puts for a credit of $.65. Then we sold 12 August 1615 calls and bought 12 August 1630 calls for a credit of $.80. The total net credit of $1.45 and profit potential is $1,740. Maintenance requirement is $18,000.

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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. Our new cash total is $52,210 ($49.610 $2,500).

ZERO PLUS POSITION -
RUT - Iron Condor - 855.77

On 6/21, with the RUT at 839.81, we sold 30 July RUT 770 puts and then bought 20 July RUT 760 puts for a credit of $.55 ($1,650). Then we sold 20 July RUT 900 calls and bought 20 July RUT 910 calls for a credit of about $.40 ($1,200). Total net credit and profit potential of about $.95 ($2,850). We have a 130-point maximum profit range- from 770 to 900. Our maintenance is $20,000.

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CPTI SEMINAR SCHEDULE!

SEPTEMBER 22nd & 23rd - CHARLOTTE, NC


Take your trading to a new level -- from a "hobby" to a potentially profitable "business." At my CPTI two day advanced 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!

51 OUT OF 55 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 Trader 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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