Calendar Spreads

Placed trade today:

IWM, sep/oct 70 put calendar @1.00

Getting concerned about my QQQQ sep/oct 38 put calendar. Delta is 51 but still just at B/E. A move over 39 will get me out.
 
Thanks for pointing out XLE. Looking at sep/oct 56/57 put diagonal. Looks promising. voty very low.

Any comments on correlation with the spx, etc.
 
So far I like XLE for cal's and diag but I wouldn't say they offer any real separation from the SPX as many of the underlying are in both ETF'.

Edit- checking it out in Barrons in 2004 XLE 's top five holdings...XOM CVX COP OXY and SLB gained 48% vs SPX 13% so I guess you can say XLE is a sub-set of the SPX .
 
Bought 10 XLE sep/oct 56/57 put diagonal @40.

I have a rule to open an order 5 cents below mark, and it worked well this time.
 
Uh, yeah. Let's let GOVERNMENT control the price of oil. That should fix everything -- those nasty, nasty speculators are ruining this county.

We will have fifty cent gas.

hahahahahahaha
 
Quote from RichardRimes:

in the watching paint dry category...all those following/trading this play. I took a peak today at the roll SEP/OCT of the 55's and the credit would be .65. There is still .30 time/extrinsic value so letting it sit for at least one more week. Anyone else rolling or closing? Its been a very nice little play thus far....
More...

I rolled for .90 credit today, bringing the overall debit down to .35. Hope to go green next month.
 
Quote from Eliot Hosewater:

I rolled for .90 credit today, bringing the overall debit down to .35. Hope to go green next month.
More...

NICE trade Eliot I'm looking to roll tomorrow or next week
 
placed

-3 SEP ES 1325 P 16.5
+3 OCT ES 1325 P 21.5
+1 132 OCT SPY P
just a 2 week spread

Potential gain @ exp: $2k for constant IV
Risk: $1.7k
Breakevens: 1308, 1342

Adjustments:
1312, 1338: Adjust to delta neutral with SPY puts/calls
1308, 1342: Remove position, reassess.
 
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