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IT'S QUICKIE TIME -- AGAIN!

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IT?S QUICKIE TIME ? AGAIN!

I'm feeling pretty good right about now. CPTI subscribers should be sleeping well this month - at least so far. Our March positions are in great shape. The S&P positions have 165 and 175 cushions on the downside and 175 point cushion on the top. The Russell bull put spread has about a 130 point cushion. It doesn't get too much better than that.

Even our hypothetical short straddle put some nice bucks in our pockets. It's always fun when the experimental trades work out well. Hell, we may even try another one for expiration week.

Tomorrow, with the CPI number and Michigan sentiment, we'll see how the bounce holds up. Most bounces haven?t held for long and many are still waiting for that final capitulation.

If you're looking to free up maintenance dollars, there's a good possibility you can buy the RUT 540 puts back for a nickel. If you?re successful, then immediately put out an order to sell the 530 puts for a nickel. If it gets filled, you've closed the spread for just the cost of a few commissions. There's not a high likelihood you'll get filled, but it does happen on occasion. One thing is for sure, if you don?t put the order out there, nothing will get filled.

The two SPX bull put spreads are also candidates to close early if necessary. The only difference is that the long options in each spread still have value and you'd have to put it in as a spread order. The order may sit there for awhile. Closing the spread for a nickel is certainly not a slam dunk.

Since we're in such good spirits regarding our March positions, let's see if we can duplicate the success we had with our February quickies. They were mucho profitable. The more aggressive Couch Potatoes out there had a big bleeping smile on their faces when they saw those extra dollars in their account.

As I always say, the Quickie trades are risky. They're not for the meek nor the inexperienced traders. They are not official CPTI portfolio trades and I, personally, do not trade them. That being said, let's see what's out there and have some fun.

March Quickie #1 - SPX Iron Condor - 1315.48
Sell 20 March SPX 1365 calls? SXYCM
Buy 20 March SPX 1375 calls? SXYCO
Credit of about $.75 ($1,500)

Sell 20 March SPX 1255 puts? SZPOK
Buy 20 March SPX 1245 puts? SZPOI
Credit of about $.90 ($1,800)

Net credit and profit potential of $1.65 ($3,300). Max profit range of 1255 to 1365. Maintenance is $20,000.

March Quickie #2 - RUT Iron Condor - 679.71
Sell 20 March RUT 710 calls? RUTCB
Buy 20 March RUT 720 calls? RUTCD
Credit of about $.85 ($1,700)

Sell 20 March RUT 640 puts? RUYOH
Buy 20 March RUT 630 puts? RUYOF
Credit of about $.60 ($1,200)

Net credit and profit potential of $1.45 ($2,900). Max profit range is 640 to 710. Maintenance is $20,000.

March Quickie #3 - SPX Short Straddle - 1315.48
Sell 2 March SPX 1315 calls? SXYCC
Sell 2 March SPX 1315 puts? SXYOC
Credit of about $38.50

With five trading days remaining in the March cycle, we're going to take a calculated risk that the SPX has settled into a short term range. Actually, considering that the SPX can move 40 points in a day, this trade is one that the aggressive trader will have to watch carefully.

If, at expiration, the SPX closes within the profit range of 1276.50 and 1353.50, you will make some money. The closer it closes to the 1315 midpoint, the more money you will make. However, it is not our intention of holding this position to expiration. We want to allow time decay and (hopefully) shrinking volatility to erode away the price of these options. In a matter of a few days, we may be able to buy this straddle back for about $34-$35.

We?re not going to hit home runs with these short straddles. That's not our intention. Ideally, we aim to pick up $400 to $1,000 in a short period of time. Our other strategies are essentially ?hands off? strategies. This addition to our strategy arsenal is for traders who can monitor their positions and are not greedy.

The above prices are based on Thursday?s closing prices. You can bet your crystal balls that these prices will be different at tomorrow?s open. You may want to adjust the strikes or credit limits. Perhaps you have a slight bullish or bearish bias. We try to be non-directional. Maybe you can bend the rules, but only a little. We live and die with the probabilities. When you start to cheat, you?re changing the game and reducing the probabilities. Be careful.

Remember to always double check the option symbols before placing your orders. Only do the trades you believe in - and the ones you can afford Not all of my suggested trades are masterpieces. If you?re uncomfortable with a specific trade, step back and wait. Another bus will be by soon.

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On To Newark

Tomorrow morning Lydia and I fly to Newark. A nice short trip compared to our recent trip to the Philippines. At least I won't have to change time zones. And, the weather will be the same too. I'm looking forward to another great group and some excellent strategy discussions.

New Seminar Date

I'm in negotiations now for my next seminar to be held in one of our favorite cities - Las Vegas. It will likely be one of the following weekends: May 31/June 1, June 7/8, or June 21/22. I still have some flexibility. Do you have a preference? If you do, let me know - send me your name and phone number so I can call you to discuss the possibilities.

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CPTI MARCH POSITIONS
CPTI March Position #1 - RUT Bull Put Spread - 679.74

On 1/22, with the RUT at about 670, we sold 20 RUT March 540 puts and bought 20 RUT March 530 puts for a credit of $.60 ($1,200). Maintenance is $20,000. We will look to put on a bear call spread in the future - IF it makes sense.

CPTI March Position #2 - SPX Iron Condor - 1315.48

On 1/28, with the SPX at about 1330, we sold 10 SPX March 1150 puts and bought 10 SPX March 1140 puts for a credit of $.50 ($600). Then, we sold 10 SPX March 1490 calls and bought 10 March 1500 calls for a credit of $.55 ($550). Total net credit is $1.15 ($1,150). Maximum profit range is 1150 to 1490 (340 points).

CPTI March Position #3 - SPX Bull Put Spread - 1315.48

On 2/6, with the SPX at about 1342, we sold 20 SPX March 1140 puts and bought 20 SPX March 1130 puts for a credit of $.60 ($1.200). Maintenance is $20,000. We will look to put on a bear call spread in the future - IF it makes sense.


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CPTI APRIL POSITION
CPTI April Position #1 - RUT Bull Put Spread - 679.74

On 3/5, with the RUT at about 674.50, we sold 20 RUT April 560 puts and bought 20 RUT April 550 puts for a credit of $.55 ($1,100). Maintenance is $20,000. We will look to put on a bear call spread in the future - IF it makes sense.

CPTI April Position #2 - SPX Bull Put Spread - 1315.48

On 3/10, with the SPX at about 1288, we sold 20 SPX April 1110 puts and bought 20 SPX April 1100 puts for a credit of $.55 ($1,100). Maintenance is $20,000. We will look to put on a bear call spread in the future - IF it makes sense.

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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. With the July profits, our new cash total is $58,660 ($56,560 $2,100).

ZERO PLUS POSITION - SPX ? 1315.48

On 2/6, with the SPX at 1342, we sold 30 SPX March 1140 puts and bought 30 SPX March 1130 puts for a credit of $.60 ($1,800). Maintenance is $30,000. We'll look for a bear call spread to complete the Iron Condor - IF it makes sense.

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SEMINAR DATE -

NEWARK, NJ - MARCH 15 & 16

Take your trading from a "hobby" to a 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 will personally call you with all the pertinent information. The price is a bargain - ONLY $995.00 -- less than the profit from one Iron Condor trade. Take advantage of the "early bird special" and save $100. You'll have a two-day experience that you'll remember, and profit from, for a lifetime. I limit my 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!

58 OUT OF 63 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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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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