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  1. R

    SPX Credit Spread Trader

    Ryan: What strikes are you considering rolling down to? Since I've got a corresponding 15 point spread bull put, I'm thinking the 1240/1255 might still bring about $0.50. QUOTE]Quote from ryank: I was able to get out of my 1260/1270 call spread at $.10 earlier today, granted my spread...
  2. R

    SPX Credit Spread Trader

    Two questions: 1) Have you been able "buy back" credit spreads for $0.10 or less on a consistent basis. 2) Are there any brokers that will designate as an IC bear calls and bull puts that have different expirations. I wouldn't think so, but why not ask. So, if this were true I could...
  3. R

    SPX Credit Spread Trader

    Coach: I'd like your opinion on the following strategy for freeing up margin: I have an OCT SPX 1125/1140/1285/1300 IC. In an attempt to free up margin, I had the following trade executed today BTC OCT SPX 1285 filled at $0.05. Subsequent to the fill I have placed an order to STC...
  4. R

    SPX Credit Spread Trader

    sd: Nice fill on the 1290/1280. Just out of curiousity did you get that filled before the market starting going down yesterday (Tues. 10/4/05)? It looks like you might be able to take a hefty percentage profit already by closing it out.
  5. R

    SPX Credit Spread Trader

    Had the following trade filled today: 1130/1140 SPX Nov bull put spread filled at $0.60 Had the following trade filled last Friday 1290/1300 SPX Nov bear call spread filled at $0.55 Pretty decent credits on the 10 point spreads for November in comparison to what we've been getting...
  6. R

    SPX Credit Spread Trader

    Coach: I've seen the term "scalp" used a lot with regards to trading, but I'm not sure what it means.
  7. R

    SPX Credit Spread Trader

    Andy, I look at this a little differently. For me the questions is do I want to start putting on my November positions 6 to 7 weeks early. So I wouldn't for example hold only December spreads in the month of September or October. As you point out this is not worth it. Instead I'm talking...
  8. R

    SPX Credit Spread Trader

    Andy, I look at this a little differently. For me the questions is do I want to start putting on my November positions 6 to 7 weeks early. So I wouldn't for example hold only December spreads in the month of September or October. As you point out this is not worth it. Instead I'm talking...
  9. R

    SPX Credit Spread Trader

    Yes, I should have mentioned that I'm talking about deep OTM spreads here. So for November I'm looking at the 1285/1300 or even the 1290/1300 bear call spread. I guess what I've noticed is that once margin frees up after opex week, the credits on the deep OTM spreads for the next month are...
  10. R

    SPX Credit Spread Trader

    I'd like comments on a near-term strategy I'm considering implementing. 1) I've noticed that it's been much more difficult to put on SPX bear call spreads for a decent credit lately. I haven't noticed this on the bull put side. I don't have any hard, comparative, quantitative data at my...
  11. R

    SPX Credit Spread Trader

    10 and 15 point spreads are typical of what Coach does. I have both and generally prefer 10, but premiums have been lower the last few months. Prior to the London bombing, I had made a lot of money on credit spreads for months with no adjustments required. At that time I had become cocky...
  12. R

    SPX Credit Spread Trader

    You guys are killing me!:mad: I noticed a post on Chris Smith's board (The OptionClub.com), where Joel from ToS posted regarding getting fills on the SPX. Basically people have been asking for months why they need to call ToS to push getting their orders filled (after inputting them on the...
  13. R

    SPX Credit Spread Trader

    Well, you're no longer a 'virgin' :) I had limit orders for$0.70 near the end, then $0.65 for quite a while and then finally $0.60. Whose your broker? Mine is OptionsExpress. :)
  14. R

    SPX Credit Spread Trader

    I couldn't resist. Got the following order filled as well today. Oct SPX 1125/1140 at $0.60 That's it until we get near October expiration except to possibly put on the bear call sides for an IC. I hope going beyond my usual 33% of the portfolio for credit spreads doesn't come back to...
  15. R

    SPX Credit Spread Trader

    Phil: I have some 1285/1300 bear call spreads that I initially got $0.80 credit for. I might be able to buy them back for around $0.15 and roll down. I'm thinking of the 1265/1280 bear call spread. Indications are I might get $0.65 to $0.70 for the roll down credit. The guys I follow had...
  16. R

    SPX Credit Spread Trader

    Market's still going down. I'm finding it hard to resist going after more 1125/1140's or maybe even lower, but I'm at my limit of about 1/3rd of my portfolio in credit spreads :(
  17. R

    SPX Credit Spread Trader

    Got filled today on the following: OCT SPX 1125/1140 bull put spread at $0.50.
  18. R

    SPX Credit Spread Trader

    I believe that the spread between the strike prices has to be the same on both sides i.e. 5 points, 10 points, etc. At least from the point of view of the broker if you want to put up maintenance only on one side of the IC, then the spread between the strike prices has to be the same...
  19. R

    SPX Credit Spread Trader

    Will you confirm again the strike prices on both sides of the IC. As stated in your post this is not and IC. Thanks.
  20. R

    SPX Credit Spread Trader

    Had the following trade filled today: SPX Oct 1150/1160 bull put spread at $0.40. I usually will go OTM a little more than Coach because 1) I believe (and hopefully not blindly so) that this will give me some more cushion which I feel is necessary since I can't watch my positions all...
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