Credit spread recommendations for 7/19-7/23

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l3randonf

What are your recommendations for the best profit:risk credit spread for the upcoming week? I am interested in the 500 - 510 OEX for the coming week depending on how the market opens. It is currently offering 88% probability to expire below the 500 strike.

I am a newbie looking for insight on the coming week.

Is there a blog somewhere that recommends the best credit spread for each week?
 
I didnt see this thread until now but I put on a 500/505 call spread and held it to expiration for a nice gain. Although it was a close call on Friday.
 
Quote from uptickk:

I didnt see this thread until now but I put on a 500/505 call spread and held it to expiration for a nice gain. Although it was a close call on Friday.
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Yes, I did the same in my "paper money" account on trade monster. I'm still saving for the real thing. I think 10k is a good starting amount.

On a side note...where can I go to learn more about trading options? All I really know how to do is use probability calculators with implied volatility to choose a strike that has at least 85% chance of expiring worthless.
 
Quote from l3randonf:

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try this

http://optionsrocket.blogspot.com/


look for "How To Profit From Credit Spreads WEEKLY"

also look at the thread here on et, some one said not to do this tatic, no reason given, but i guess he felt it is too extreme.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=203327

also look at this thread on et, but the op says he is not doing credit spreads any more, look at the latter posts for his thoughts

http://www.elitetrader.com/vb/showthread.php?s=&threadid=49586

i have had some luck with spy credit spreads, have not felt confident with the index futures.
 
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