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Coach, Are you still playing the VIX options as cheap insurance on your bull puts?

Something interesting just happened. I changed my trade to close the credit spread for $0.15. So buy August 1345/1360 for $0.15. Profit potential of $0.55 in about a week. EDIT: This is 3.67% return on margin. Then, I thought, what the hell, call ToS and have them call down to the...

Thanks, Rally. Your response confirms that we definately have different viewpoints and explains much. Still as I said when you first posted here, I think there will come a time when the only game in town might be CTM spreads. And at that time I'll probably come around to your way of...

Thanks, Coach. Here's something I could use some help on. On July 6th I had the following trade filled (I erred in my previous post on when this trade was filled). August 1345/1360 bear calls for $0.70 SPX was at 1277 As a result of the substantial drop since then, I would love to...

So just like when you asked me earlier this week why I put on a bear call when the market looked (in your opinion) to be headed towards 1275 - 1290, why are you putting on bull puts when the market looks [in my opinion and to some extent your own :)] to be headed towards 1200 and lower. I...

Coach: Just curious, if you don't mind sharing: What kind of day trading have you been doing the last couple of days. Have you been shorting futures like there's no tomorrow? Are you doing anything with regards to oil? Thanks.

Nope. But I am putting the bear calls on early. These particular bear calls (July SPX 1355/1370) were filled on June 1st. Bear calls have been good the last couple of months and I haven't sweat one bit. It's so nice not having to worry about geopolitical events or a potential black swan...

I've been unable to get to a computer for a few days. Just wanted to update and post that I was able to sell my July 1370 call for $0.05. So the cost to leg out of this spread was $0.00. I paid $0.05 to buy back the July 1355 and got $0.05 selling the July 1370. Of course there were...

I use ToS mostly. I have an OX account as well that I'm considering moving over to ToS. I did recently sign up with IB but have not fully completed the application and have not funded the account. I'm quite interested in your experiences and am disappointed to see that you're having these...

I decide to put in an order today for an August bull call on the SPY to hedge my August SPX 1345/1360 bear calls. I figured I'd put an order in to buy the 133/134 SPY bull call for August at $0.10. The mid was $0.10 and the ask was $0.20. The order was filled in one second at $0.10...

Well, it turns out I finally got filled at $0.05 debit despite the initial b/a $0.00/$0.50. Now, I'll put in an order to sell my long 1370 at $0.05 and if it happens that's great. The important thing is that I've freed up margin and guaranteed myself a profitable July of at least 4.4% (only...

I'm trying to get out of my July SPX 1355/1370 bear calls in order to free up margin. I'm offering $0.05 to buy back the 1355. I've generally found that it is easier to close just the short and not the spread when the position is this far OTM with only a week and half or so left to...

Thanks, MTE. After reading Cottle two weeks ago, I thought that it was the synthetic, but I'm still new to those concepts so I wasn't sure. The parameters for adjustment are 565 and 605. The advantage is supposed to be that if the XEO reaches either 565 or 605 it will be so deep in the...

I saw this example trade and am wondering what it is called and if anybody has made similar trades or has some comments on this type of trade. XEO at 585 Sell 1 XEO August 565 calls @ $24.25 Sell 1 XEO August 605 puts @ $20.25 Profit potential: Max of $450 if the XEO is between 565 and...

Ryan: Please refresh my memory on how to check this in ToS. Thanks.

Coach: I knew this would be your answer. However, at this point in time, the only way I can see of implementing this is based on roughly constant premium. So, in a low volatility environment that we've had, let's say that I've become satisified (learned to live with) with a $0.50 premium...

This is probably going to seem like a bizarre question [hey, it wouldn't be the first from me :)] I'm the only one in my family who trades options and also am the only one who can even access my accounts. So, I'm wondering if others have plans in place should they become incapacitated and...

No, it didn't even cross my mind especially since we are now 80 points OTM on my short strike (SPX is currently at about 1265). EDIT: ToS is currently showing a mid of .15 and natural of 0.20 on the 132/133. For the 133/134 the numbers are 0.10/0.15. Coach, riskarb what are your thoughts...

Coach: I've noticed that you seem to be putting on fewer and fewer bear call spreads. Is this solely due to your analysis of the market or are you now predisposed to bull puts preads based on your comments in the post below.

Are you putting on any bull puts? If so, aren't you concerned about the geopolitical risks?