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:mad: Wish I had sold a boatload of those March 1495/1505 SPX spreads- had a feeling something was about to happen but I was too cautious with margin and only sold 10 - darn....

Sorry, I was responding to Trendsailor a few posts back about an AAPL credit spread.

Bought 1000 shs of APPL at the open today so I'm up almost 6K. May wait for a pull back and buy some calls to scalp. I think it still has room to run but it may take awhile after this runup. JMHO.

END OF YEAR SUMMARY: Another good year for SPX spreads although it got difficult at the end with the market surging, VIX dropping and rare few down days to jump in on put spreads for NOV or DEC. Final net profit for 2006 : $71,759.50 Sweet, If I could be quaranteed of making only...

Thanks Coach, appreciate you taking the time to answer a newbies questions.:)

Sorry, I meant to say it would be impossible to get out without a loss if you had a bear call spread.

Coach, I know near the beginning of this journal you placed some partial hedges, I should probably go search for those threads again but since you're on the subject I seem to remember you actually placed a debit spread on SPY options instead of just buying the put options alone above the...

Coach, If you don't mind me asking, how many contracts are you looking at for the put spread?

Filled today on 5 Jan. 1470/1480 @.90 credit spreads (don't want to risk too much margin since this is my first attempt at SPX spreads). Thinking we may be in for a short term drop in the market before the next leg up. If not then I get to try some hedging tactics.

Trendsailor - funny how you came to this site as I was surfing the web looking for sites on SPX credit spreads. I also got burned on some DIA spreads - up until this rising knife I was up about 20K this year - now I'm down about 40 and some change. What really bothers me is that I almost closed...