Wow everything looked good BUT. I had recommended 4 option trades on Thursday with 2 days till expiration and here are the results AAPL call spread 4%, AAPL put spread 3%, SPY put spread 4% and now for the BUT. I recommended the SPY call spread @ 8% then violated 2 of my own rules #3 and #7.  Rules are just that rules and should be adhered to to keep risk under control and not let greed take over. Consistency is the key to successful trading.  Rules #3 is risk no more than 2 times your collected premium and Rule #7 is always take the more conservative trade.
What did I do?  I announced in the trading room that I would make my decision on what to do around noon  friday and  heres what followed.  I bot back the 134/135 credit spread for .56 and sold the 134/135 next week expiration for .56 cr.  I did this as a spread order for $0.  What have I achieved?  I am buying time in fact a whole week and expecting the SPY to sell off and go below 134.  I have an .08 credit from the trade and just extended it from 2 days to 9 days.  That is the most that I can make. Will see, I will be watching.  The markets are very top heavy at present with most indicators showing overbought and primed for something, we'll just have to wait and see.

So how did I do for the week with Slow Money Option trading?

https://docs.google.com/spreadsheet/ccc key=0AjgjBJLwH3rdERid3A0RE1GRFlyaHB0S0VxbHc0Vnc&authkey=COb7xdMJ

Still working on an expanded option trading method, but I need to be able to show consistency and not a hit or miss like the majority of subscribers plans.  Stayed tuned . . . . 

Remember if your not a paid up member of the Fast MoneyTradingTeam you will not get the weekly Slow Money Option recommendations. Yes, I expect to publish Wednesday,Thursday or Friday my weekly option trade to the paid up members.