Option Investor
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QUICKIE TIME AGAIN - IF YOU DARE

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IT'S QUICKIE TIME AGAIN - IF YOU DARE!

On Monday, we took advantage of an early spike in the market to complete our SPX Iron Condor. We sold 25 contracts of the SPX 1340/1350 bear call spread, taking in $.55 of premium. In a down trending market, we had about a 70 point cushion for the final two weeks of the July cycle. It also provides us with some additional financial cushion in case we have to roll out of our 1190/1180 bull put spread. I sure hope it doesn't come to that, but stranger things have happened.

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Quickie Time
Every month I come up with a few quickie ideas for the more aggressive traders out there who have the time, the skills, the assets and the risk tolerance to deal with the variety of scenarios that might occur. A week is a relatively short time to be exposed to the market - and it can seem like a lifetime if things go wrong.

I, personally, don't trade these quickie trades. However, on the positive side, these trades have been working out quite well for a long time. These trades aren?t really followed in the newsletter, but we keep an eye on the results.

Our strategies work best when we are in a trading range. Are we in a trading range now? Hell no. But that's not going to stop our aggressive traders. Why let a little thing like logic get in the way of a nice healthy risk?

Many people use these trades as a guideline for creating something of their own. I encourage creativity, but I discourage greed. Be careful and be conservative. However, if you get into trouble and don't know how to handle it, don't come crying to me. Don't bet the family jewels or you might end up with an empty jewel box. Ouch!!

July Quickie #1 - SPX Iron Condor
With the SPX at 1253.39, let's:
Sell 20 SPX July 1200 puts - SZPST
Buy 20 SPX July 1190 puts - SPTSR
Credit of about $.60 ($1,200)

Sell 20 SPX July 1310 calls - SXYGB
Buy 20 SPX July 1320 calls - SXYGD
Credit of about $.85 ($1,700)

Net credit and profit potential $1.45 ($2,900). Maximum profit range is 1200 to 1310. Maintenance is $20,000.

July Quickie #2 - RUT Iron Condor
With the RUT at 670.44, let's:
Sell 20 RUT July 630 puts - RUYSF
Buy 20 RUT July 620 puts - RUYSD
Credit of about $.60 ($1,200)

Sell 20 RUT July 710 calls - RUTGB
Buy 20 RUT July 720 calls - RUTGD
Credit of about $.55 ($1,100)

Net credit and profit potential of $1.10 ($2,200). Maximum profit range is 630 to 710. Maintenance is $20,000.

These prices are based on Thursday?s closing prices. As you know, Friday morning will bring changes. However, you can use these strikes and option prices as starting points for your negotiations. Always check your option symbols before placing your trade and adjust the number of contracts to your risk tolerance and account size.

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NEW SEMINAR DATES ANNOUNCED!

After a very special sold out Las Vegas seminar last weekend, I?ve put together two new seminar dates along with Early Bird Special dates.

OCTOBER 4 & 5 - DALLAS, TEXAS

DECEMBER 6 & 7 - ORLANDO, FLORIDA

You will save $100 if you complete your reservation for the DALLAS seminar by August 17th. Your two days of education and enlightenment will cost only $895.00.

You will save $100 if you complete your reservation (including payment) for the ORLANDO seminar by October 1st. Your two days of education and enlightenment will cost only $895.00.

If you can, plan to say a third day. Mike Cavanaugh, my broker, will be giving a comprehensive presentation on the Monday following the seminars. You are invited to attend - at NO CHARGE. Don't miss it.

Contact me as soon as possible. Send me your phone number (Contact Support) and I'll personally call you to reserve your spot and to answer any questions you may have. Both locations are great vacation spots. Plus, the earlier you get your airline tickets, the cheaper they?ll be.

RETAKES
Seminar grads who want to schedule their free retakes should contact me immediately (mparnos@optioninvestor). There are only five retakes per seminar and are first come first served. They go quickly. He who hesitates stays home.

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Proof that Men Have Better Friends...

Friendship among Women:
A woman didn't come home one night. The next morning she told her husband that she had slept over at a friend's house. The man called his wife's 10 best friends. None of them knew anything about it.


Friendship among Men:
A man didn't come home one night. The next morning he told his wife that he had slept over at a friend's house. The woman called her husband's 10 best friends. Eight confirmed that he had slept over, and two said he was still there.

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CPTI JULY POSITIONS

CPTI July Position #1 - RUT Bull Put Spread - 670.44

On 5/23, with the RUT at about 735, we sold 20 RUT July 620 puts and bought 20 RUT July 610 puts for a credit of $.65 ($1,300). Maintenance is $20,000.

CPTI July Position #2 - RUT Bear Call Spread - 670.44

On 5/28, with the RUT at about 732, we sold 10 RUT July 810 calls and bought 10 RUT July 820 calls for a credit of $.50 ($500). This bear call spread completes an Iron Condor for 10 of the RUT bull put spreads previously put on 5/23.

CPTI July Position #3 - SPX Bull Put Spread - 1253.39

On 5/30, with the SPX at about 1399, we sold 20 SPX July 1250 puts and bought 20 SPX July 1240 puts for a credit of $.60 ($1,200). Maintenance is $20,000. Position closed for debit of $3.05 ($6,100).

CPTI July Position #4 - SPX Iron Condor - 1253.39

On 6/27, with the SPX at about 1275 we rolled our 1250/1240 bull put spread position into a 25 contract 1190/1180 bull put spread for a credit of $.80 ($2,000). Then, on 7/7, with the SPX at about 1372, we sold 25 1340/1350 bear call spreads for a credit of $.55 ($1,375).

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CPTI AUGUST POSITION

CPTI July Position #1 - SPX Bull Put Spread - 1253.39

On 6/19, with the SPX at about 1342, we sold 20 SPX August 1170 puts and bought 20 SPX August 1160 puts for a credit of $.65 ($1,300). Maintenance is $20,000. I?ll 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 May profits, our new cash total is $62,110 ($60,460 $1,650).

JULY ZERO PLUS POSITION - RUT - 670.44

On 5/20, with the RUT at about 721, we sold 30 RUT July 610 puts and bought 20 RUT July 600 puts for a credit of $.70 ($2,100). Maintenance is $30,000. We will look to put on a bear call spread in the future ? IF it makes sense.

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SHORT & SWEET - RUT - 670.44

On 5/18, we opened a new hypothetical ?Short & Sweet? position, selling 4 December RUT 530 puts and selling 4 RUT 930 calls for a total credit of $10.30. Then, we purchased 4 of the July 550 puts and 4 of the July 890 calls to give us two months (June & July) of protection for $.60. Our net credit, thus far, is $9.70.

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SEMINAR DATES -

DALLAS, TEXAS - October 3, 4 & 5

ORLANDO, FLORIDA - December 6, 7 & 8


62 OUT OF 67 PROFITABLE MONTHS!!
WANT TO ACHIEVE SUCCESS WITHOUT STRESS?
OF COURSE YOU DO!!
LEARN OUR CPTI WEALTH-BUILDING TECHNIQUES!

I?ve negotiated excellent low room rates for both seminars. Check your calendar and contact me as soon as possible. Send me your phone number at - Contact Support. I will personally call you to go over the details and to answer any questions you may have.

Also attending (and speaking) in Dallas and Orlando will be Mike Cavanaugh, my personal broker and option strategist extraordinaire. Actually, he knows this stuff better than I do. I guarantee you?ll be impressed.

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!

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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