I too have been doing put credit spreads. I try to do condors, but the call side generally has not been worth the hassle. The only good part about the call side : there is no extra margin required -- may only get 5 cents, but it is essentially free. I am greedier than thee. My goal is >3/4. But on my FCX march 60/55 -- FCX is at 75, so the only reason to close it down is if a better opportunity appears. Got $480 (net) for 10 contacts, could close it maybe for $100 plus ~$20 in fees. So it is at a good spot to close. If I go to make a trade, and can't because of margin -- boom, close her down. Credit spreads require attention, as do calendar spreads. Once they become safe, it is easy to let them lie. You have to watch the chart to see what to do -- MACD and slo stocastic often say get out before problems. I have been listening to the CSP guys, but I feel a lot safer with a credit spread than a CSP --- On Fri, 2/26/10, optionsmike <michael@safe-
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