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Basically, when rolling to the next month, I'm buying time. I try to do it for a credit if possible, but it is certainly cheaper to roll out because of the time value premium involved vs. rolling up/down within the same month. A lot of it has to do with the market behavior at that point in...

I agree. Plus the Beige Book at 2PM (EST). Guess that's why we're not directional traders. I personally would be broke already trying to trade the funnymentals...

Don't feel so lucky to have gotten those puts yesterday now....:(

Actually, I'll roll either down (in May) or out (to June), depending on what the situation dictates. More risk to roll to June, but I'm a risk taker of sorts and can do it for a credit usually....

Thinking the same Donna. Since 1240 is below the 200 dma and we're 22 days out, I thought I'd give it a try. Plenty of strikes open for June now to roll too, so if we get a substantial break, that's where I'm headed. I may also use the SPY's to hedge off some of that risk if it starts to get...

Believe me, it was tough. I tried to stay a nickel in front of the mid all day, but on the last leg lower to ES 1304.25, they grabbed them, which happened to be the LOD. Man, the premiums this month are hard to come by. Frustrating, but luckily, I can watch the market all day and grab this...

I thought I'd share my May positions with the board: -250 May 1360/1370 Call Spread @ .45 -250 May 1240/1225 Put Spread @ .45 (filled today) Total Credit = $22,500.00 Return on Margin = 6% Any thoughts or comments???

You got me nervous with my 1360/1375 call spread....a little nervous, but not a lot. I have 150 SPX 1360/1375's on now for a net of 65 cents.... At what point would you consider rolling? I know it's WAY early to even consider this, but I want to be proactive on this position. I personally...

Sailing, The RUT has strikes in 10 pt. increments and the implied vol is higher than that of the SPX. It's a little less liquid at times and the MM's are not always as willing to negotiate spread credits as easily as with the SPX. I like trading the RUT mainly because I can create wide...

CashCache, I forgot to answer all of your question. I apologize. I legged into the SPX IC, but sold the RUT IC all at once.

CashCashe, With this low vol environment, I have been putting on the condors a little earlier than I'd prefer. My main goal is just safety of course, but I realize that those extra couple of weeks can be painful too. This rangebound market has helped as of late. As long as we're...

Hi Coach! Hope all is well. I've been doing Iron Condors and credit spreads on the SPX and RUT for about 2 years now. I've got my spreads on for April on both the SPX and the RUT. I've only been watching your posts for about a month now. Great work! I'm glad there's a forum for this...