Option Time

I would like to see the following things happen before I start trading options again and I am putting the market on notice.

1) Volume & OI need to pick up
2) Bid/ask spreads must narrow
3) VIX needs to come back to Earth
4) Congress must meet, reach a decision, and then scurry back to the oh-so important steroid scandal in baseball
5) The short selling ban should be lifted (this is a big cause of the lack of volume and liquidity and it is keeping the market at artificial levels)
6) 400 point moves in the DOW will need to become unusual again
7) Implied volatility must decline (if you think this is a good reason to be a seller of option premiums, you're wrong)

















I'm growing impatient and the market has now been officially warned.

In the meanwhile, learn as much as you can from this chaos and continue to find charts and setups for when the time eventually comes to make a move.