Leo,
When I adjust calendars it's based on two indicators: delta and momentum. When the delta moves away from one of the tent poles into the 'bad neighborhood' I look at the momentum of the stock. If I think it's just a flag, I will hold off making a correction.
If and when I do make a correction, it's usually another calendar at a lower/higher strike. Of course, if the trade is profitable and near 25% of max profit, I will probably just close it.
I have an extensive post on my blog related to calendars and double calendars - you may want to check it out.
http://theoptiongur
There is also a video (see the downloads on the right) that goes along with the post.
I really love calendars and double calendars and I enjoyed the Dan Sheridan video that Chris provided.
Jeff W
--- In OptionClub@yahoogro
>
> When deciding when to make an adjustment on a double calendar should I wait until the overall trade begins getting into trouble (as Dan Sheridan says "going into the bad neighborhood)
>
> Or should I look at these as individual calendars and make my adjustment when either of the calendars is moving "into the bad neighborhood"
>
> I am looking for the balance between over adjusting or waiting until it is too late to remedy a deteriorating situation.
>
> Leo
>
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