I Got Burned & I Didn't Even Learn...

I was guilty of not knowing whether I made or lost money on my first SPY put vertical spread and boy was it a real economiss.  Somehow, the 'credit' I collected confused me, but it turned out as soon as I got into the position, it had turned against me.  I should know by now that there's no free lunch.

After another experience of jumping in front of a bulldozer to collect pennies, I think it's time to step away from the SPY for a while.  It's been a loss-leader for me and if I want to get rid of losses, that's where I have to start.  Good thing I was not approved for straddles!  It looks like such a compelling position, but I must say I don't understand the risks.  

I'll keep it simple from now on, but at the same time, I want to find out how money gets made with SPY vertical spreads.  When does it work?  Why didn't it work when I decided to jump on the bandwagon?

I kind of want to go away until Santa comes along, but I've still got a bunch of calls going on.

Believe it or not, I ended up with gains on my accounts after taking some losses, but I'm more concerned about increasing bankable gains and minimising haircuts.  A day with bankable gains and a paper loss is preferable for me, but ideally, I'd like both bankable gains and paper gains please...


+1.88% SBA
+0.15% Roth IRA

-0.69% DJIA
-0.61% Nasdaq
-0.70% S&P 

-1.99% FTSE
-1.84% Eurofirst
+0.10% Nikkei
+0.12% Shanghai
-0.07% SENSEX
-1.61% Hang Seng

-1.94% WTI
-1.74% Brent
00.00% Gold
-0.91% Copper
-0.15% Corn

+0.68% EUR/USD
+0.59% GBP/USD
-1.22% USD/JPY
-0.51% EUR/JPY

-1.06% DJT
+2.42% VIX

-0.52% 10-Year US Treasury Notes