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As of today's close the SPX is only 13 points in the black for the year. Aardvark: I think I'm gonna try to get out of my June 1355/1370 bear call now that it's almost 95 points OTM. Free up the margin and look for future trades. What are you going to do with yours? P.S. I'll P.M. you...

Coach: I have a number of June bear call spreads that I entered into earlier that now have midpoints of $0.05 or less. However, I can't seem to get the MMs to bite on letting me get out at $0.05. I could try $0.10 and would still retain over 80% of the credit received, with new powder in...

Hi Heather: Since you're asking for advice or comments, let me give you my opinion: 1) Don't trade the RUT. Stick with the SPX. Relatively speaking it is slower moving and not as volatile. Plus the RUT MMs are the worst when you try to get out and they sense "blood in the water". 2)...

Hi Heather: Haven't heard from you in a while. I am sorry to hear about what happened. Similar thing happened to me last summer. Can I offer a little advice. You will now experience a strong urge to quickly get those losses back, but I'd like to suggest that you instead take a month or...

Congrats, Coach on your first anniversary. BTW: I hope you're not planning on leaving. Remember, we know where you live. :)

I'm sure Mo is kidding; it's kind of an inside joke. :)

Thanks. My plan is to post an updated spreadsheet on the Friday that the SET posts. So, there will be an update this Friday.

I've been posting spreadsheets with historical Friday morning SET versus Thursday SPX close. Have you downloaded that spreadsheet and reviewed the data. If you haven't I would suggest you do that first.

Yeah, I'm trying to get out of some really FOTM June bear calls and am having the same issues as Ryan. Cache, I think I'll take your advice as well.

Coach: Just curious. What kind of trading are you doing on a day like today?

I take no offense at your comments. But let me just say the following things: 1) I've been trading spreads for 14 months, I believe you've been trading for 10+ years. Obviously I have a learning curve to go through and hopefully will establish a better system for entering spreads. I'm...

Also, I believe IB charges if you change orders, but I'm not sure how much. I change my orders a lot, if I'm not getting filled. So that's why I use ToS and OX.

What's the website address for Coach's show??

Yeah, I thought I got a good credit for today's conditions. But Rally is right, my timing on entries is not stellar. OTOH, it's always easy to say that with 20/20 hindsight. It's also the reason I don't put all my trades on at once. If the coming days show that my timing today was poor, I...

It's a fair question, but I can't give you a 100% logical answer based on technical analysis. The trade meets my credit requirements and the short is 65 points OTM. Now, to be clear, this is a trade that I put on using my own criteria. But for grins, let's look at a post you made on...

Coach: What's your take on June positions? I don't think you have any yet, but are you trying to place any?

This should read bear call was filled for a credit of $0.70.

Well, I guess the SPX MMs must have been following my posts on SPY vs. SPX. They just filled me at the midpoint. June SPX 1355/1370 bull call filled at midpoint of $0.70.

Yes, while the SPY could possibly provide equal or better credit getting in, if I have to close the position, then the commissions will cause a big reduction relative to a similar SPX position. Roundtrip commissions (if required) would be a major problem.

Nice summary. Perusing the XSP options, there seems to only be 5 point spreads so 135/140, etc. This equates to 50 points on the SPX.