Recent content by burrben

Would you mind explaining the mechanics of the trade you just mentioned? I not sure if I'm understanding what you mean by purchase a butterfly and roll down. Wouldn't that trade be? +50x1340 -100x1350 +50x1360 My current trade is: -100x1360 +100x1350 Then I would have to: Buy...

That's also one of the positions I'm considering taking. I would sell 20 of my long 1350 puts at 4.90 and then buy 20 1365 puts for 6.20. The resulting position would look like +20 1365 -100 1360 +80 1350 I have also attached the risk graph from TOS. If the SPX expired above 1365, I...

Looking for a little good advice. I stepped in front of the truck a few days back and put on a 100x1360/1350 SPX PUT Credit Spread for 0.50. Currently to close this spread it would cost 1.00mid price. Now that the SPX is back in the positve at 1407. I'm thinking of putting on some...

Yes, we get it. You are uncomfortable doing this... Yes others are uncomfortable doing this... Yes, it's not a rocket science strategy... You have all beat it into our head what a bad strategy this is, and how uncomfortable we should be... thank you. Now for us idiots who continue to...

I'm trying to get filled on the DEC 1460/1470 SPX call spread. Is anyone taking any vertical positions for Dec? I'm trying to get .45 for it on a whim. Looks like the credit spreads have been taking a pretty good beating here on the thread, so much so that I don't see many credit spread...

Coach, So I have been kinda blanking when you are talking about these fly's, since I don't think you can do them in a retail margin account. So my question is: Which strategies, other than credit spreads or double diagonals, have you mentioned that are reasonable to do without haircut...

Well I'm still holding the 1375/1380 spread sitting with about 15 points of wiggle room. The 15 point distance is my decision point. I took in about .35 for the spread and it's now priced this morning at .95. Considering the crazy enthusiam for the market right now, I am considering closing...

1323.12 SET

Since all good SPX'ers know how the SET is calculated, the opening print of all 500 stocks, can we just calc it ourselves? I have access to a ton of market data, bloomberg, activ, and other streams. Would it be that hard to write a spread sheet with all 500 stocks listed, the associated...

Anybody want to place bets on the $SET #? I'm betting 1328.

Right now I'm getting .95/contract with TOS's EX/Rates program. I'm trading around 150 contracts/side of credit spreads, around 50 for diags/month. Is anyone getting a cheaper rate than .95? I remember someone saying they were trying to get .75. Also, remember that if your trading over...

Well, it looks like we might have skinned the cat on our trades until the $SET get's all funky on us. It would have to be above a 14pt set to really hurt. Good luck to all! On another note, cache what are your current positions?

Yes, I just went to church for the first time in 15yrs praying that tommorow will be a down day for the SPX. Just kidding, but I'm short the 1330/1335. Boy, last week on Friday I was already counting the $$, and now I'm biting the nails. I really don't want to close out this trade, there...

What the heck is going on? SPX up 14pts! Anyone think we'll retest the 1yr 1326 high ? If so that would suck since I have a short at 1330. grrr....

Ummm..... Account Value: $15,739.50 - YTD Net P/L: 5,739.50 = $10,000