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I think you are right, get out of harms way today with the pop. Right now the mids are: 120/125 = 1.40, profit of .20 125/130 = 1.60, profit of .60

I don't follow OIH but after a quick review, if it were me I would probably go rallymode's way but to each his own. Right now I'm waiting for SPX to get down to 1230 or below to put on a CTM bull put spread. Thanks for helping to expand my trading universe a bit :).

You are going all out on this trade using the 130 short aren't you :).

I believe he said the black swan protection is for call diagonals done for a credit, not put diagonals.

I assume you are keeping the long Aug positions and creating new positions with them or will you be closing them out to book your profit?

I don't think your friend has ever started a business. Just to start a business takes a large amount of cash and then it takes some time to actually make a sale and even longer to make a profit. A business has employees, customers, government (multiple levels), vendors, banks and others that...

How wide was your spread? Puts/calls?

It's a tough thing to deal with mentally after doing credit spreads for so long isn't it? :) I'm still trying to get myself used to it, dipping my toes in as well per my post Monday. I do like the credits you can get on the call diagonals, just need some more bleed in the vix before I go that...

The market isn't really near a high or low right now so I wouldn't do a CTM trade at this point. I've been watching how 5 point wide spreads CTM react and would suggest doing a 5 pointer instead of a 10 pointer when the timing is right. If you are trying to put on a position anticipating a...

Yes, with that wide of a spread the long put doesn't increase enough to help offset the short put.

With the CTM spreads and diagonals I am adding more tools to my tool box. I really like the CTM spreads but haven't put one on yet. I was all set to do it Friday and was monitoring 2 different put spreads but I had to be away from my desk for a few hours and missed the opportunity. I will...

I'm playing along with you :D . I have an Aug 1345/1355 call spread, just don't want to spend the money to close it quite yet. I am playing the 45-15 cycle with this one and I don't feel it is in any danger so no need to spend the money on comissions and slippage to get out right now. Now is...

I have been paper trading call diagonals for a few months and wanted to do one for real. After some discussions with Sailing he convinced me that a put diagonal was the way to go with the current market conditions so here is what I did: STO Aug 1200 put @ $12.00 BTO Sep 1175 put @ $13.60...

I have been trying since about 12:30 to get a put spread filled. I have been .10, .15 and .20 under at various times and no fill :mad: .

Very nice fill :)

I opened a small 1170/1180 Aug put spread today for .50 before market really dropped.

Just go to the Probability Analysis tab (under the graph) on the Analyze page. In the upper right hand corner you can change the percentage to 95% for the 2 sigma values and the graph will update.

Not that it is the only thing I look at but I always check where 2 sigma lies at the time I am putting on a spread. With higher volatility it pushes this point farther from the market.

Not yet, market is too far away and not seeing the upward momentum yet. Things can turn on a dime though. With the down draft today might be a good time for put spreads.

I thought we had a chance to hit 1290 on the SPX today after the jobs report. The initial reaction in the futures was very positive but gave it all back shortly thereafter.