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Couldn't hold onto my 1230/1240 put spread one more day could I? :mad:

I'm debating a 10 point or 5 point spread. 1300/1310 mid is 1.45 or I could go a closer with a 5 pointer and get similar credit with less risk, decisions decisions decisions. Of course, I could just do nothing.

A good up day for bear call spreads but time is getting short, only 21 days to expiration. The premium really drops after the 1310 strike so would have to go with a 1305/1315 or 1310/1320 to get any money out of the trade. Might be a little close to the edge though.

With the upward push this morning maybe I can jump back into a 1230/1240 and pretend yesterday didn't happen :eek: .

Well, hindsight is 20/20. I was able to close my 1230/1240 yesterday (I was actually trying to cancel the order and I was filled right before I clicked on the button). While I am glad to be out of that position (look for the rally now :p) I was thinking maybe I should have turned it into a...

Yesterday you said you were still in your June 1235/1240 put spread. Are you still in? The mid today ended at $1 and your credit was $1.60 so a good trade so far.

I hope you are right, I haven't gotten a fill to close my 1230/1240 spread.

That is one of the funnier things I've heard all day :D !

I know what we have been missing! Coach needs to put on some hedges to make the market go back up! :p

All right, from now on I will not go to the grocery store on a down day! Every time I go in that darn store I walk by the wine aisle and they have Black Swan wine sitting right in front. It freaks me out every time! :mad:

I'm not familiar with futures speak, what do you mean by this?

Not yet, I'm looking at getting out of a painful put spread before adding any more downward exposure :(. My June 1230/1240 put spread was put on at exactly the wrong time by looking at the chart (we were still over 1300 at the time) needs to be addressed first. I was looking for the 200ma to...

If there was any doubt before, we are now under the 200 day ma. Need to see where we close but this isn't good, not sure where support is going to come in.

I don't see a quote for 1160 in TOS, is it available?

You can change your credit spread into a butterfly by buying a debit spread. If you opened a 1235/1240 put credit spread you would buy the 1240/1245 put debit spread to create the butterfly. To lock in a profit you have to buy the debit spread for less credit than you took in. In this case it...

There is a very fine line between bravery and stupidity :D .

I wasn't quite brave enough to pull the trigger on the 1235/1240 spreads, still paper trading this month. Probably move to a small amount of real money next month. I think the pull back these last few days have really shown me how a well placed 5 point spread can work out better under pressure...

A good up day for the market and nobody is taking any call spread positions?

Have you jumped out of your 1235/1240 spread or are you hanging on?

The bid/ask spread is HUGE so getting out of a position going against you on a weekly wouldn't be much fun.