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I knew the SPX was going to tease me! Time decay is really kicking in and (for the moment) it looks like a down start to the market today. I think I'll still hang on and not do any adjustments to my 1250/1260 bear call spread just yet. If I do get the opportunity to get out at a small profit...

I'm more inclined to sight tight for now. I think we had some good news coming in over the weekend concerning the situations down south and a drop in oil. You are right, alot of money is coming back from vacation and the bid/ask spreads are a little wacky right now on the calls. We will have...

I have a bear call spread on SPX at 1250/1260. With the strong move up today we are very close to my "Warning" level of 1235, if we continue on the upward direction tomorrow there is no doubt we will hit that level. Right now my spread is showing a good loss but SPX showed resistance around...

I believe that OptionsXpress (and probably other brokers) offer all of this for free just for having an account with them. ryan

It looks like a good trade to me. You received a good amount of credit with the short strike being 52 points OTM (at the close). You are looking at a 5% return with 18 days remaining if all goes well. Make sure that you have a risk managment plan in place should the market move quickly...

I closed a 1265/1275 spread early when the market tanked for several days for a profit (5.5% gain) and rolled it into the current 1250/1260. If all goes well and they expire worthless I should get another 6.5% (although, like you, I might close early and get into an October position). There is...

Well, what do you know, Coach and I have one of the same IC postions right now and I even ended up with a higher credit (I put my positions on a little earier). I must be doing something right! I'm glad to see that 1200 is holding well today, I was getting a little nervous over the weekend...

A lot of times you just have to enter in the order and walk away for a bit. It is unusual for me to have an order filled right away. Most of the time it sits there for quite a while waiting for the market to move in my favor for getting filled. There have also been a number of times where I...

Yesterday I was looking at the same spread but decided to take on a little more risk and sold the 1250/1260 for $.65. I rolled down from a 1275/1285 spread and liked the premium and risk of my new position. At the moment I am more worried about my 1165/1175 put spread. I would be looking to...

I just had a good laugh at my own screw-up. Replace IV with Delta in my previous post. That's what I get for trying to dash off a quick post before leaving work!

I just did some quick aftermarket digging and found these: 1245 IV .13 1250 IV .10 1255 IV .07 1260 IV .05 These strikes appear to have some juicy premiums (assuming you could get filled near the mid-point) vs. the risk: 1245/1255 = .95 1250/1260 = .70 1255/1265 = .45...

I've got a bucket next to my computer in case I need to start bailing ;-) ryan

I opened the following positions last week: SPX Sept 1165/1175 put spread for a credit of $.75 SPX Sept 1265/1275 call spread for a credit of $.75 I would have preferred to place my spreads the previous week but sometimes life gets in the way. I was too busy to evaluate things close...

Which trade, OEX or SPX?

Phil got a great fill early on to grab the $0.95 credit.

If you have a support level in mind (which I'm sure Phil does around 1200ish) and the index drops like it has today and yesterday, the puts go up in price. You can then sell an OTM bull put spead for more premium. After you sell the spread you look for a good upward move in the index which...

I am looking at Sep bear call spreads. The 1280 call delta is .15, I am looking for a delta of .12 or less to short. The next available call is 1300 with a delta of .07. How/when will strikes between those 2 open for trading? ryan

I see what you are saying, I see where it would be better for you to close the spread and roll up. I just caught my error in thinking. I thought I could just sell more calls of the higher strike and keep the same margin. This isn't true, if I did sell more calls then before I would have a...

Have you ever done an adjustment to just the short side of the spread? What I mean is if you have a 15 point spread, buying back the short option and selling an option that is 5 or 10 points from your long option? I'm trying to work this through to see if this makes sense. It would move the...

I'm watching my calls closely as well. I've got a bear call spread with a short 1265 strike. Here's to hoping for good resistance at 1250 Phil! ryank